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Bank and Quotation Section
State and City Section
Railway and Industrial Section (Quarterly) Street Railway Section (X|?gag“*)
l
(Monthly)

Watered according to A ct of Congress, in the year 1906, by

W il l ia m

B.

(semi-Annual^)

D ana Company

SATURDAY,

VOL. 83.

'ijlie (Chronicle,
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For Six M onths................................................................................................. 6 00
European subscription (including postage).............................................. 13 00
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Annual Subscription in London (including postage)........................... £ 2 14 s.
S ix Months Subscription in London (including postage)................... £ 1 11 s.
Subscription includes follow in g Sections—
B ank and Q uotation (m onthly)
I St a t e and C ity (semi-annually)
StAELWAY and I n d u strial (quarterly) |s t r e e t R a il w a y (3 times yearly)

Terms ol Advertising—Per Inch Space

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B . D A N A C O M P A N Y , P u b lish ers,

P in e S t r e e t , C o r n e r ot P e a r l S t r e e t ,

NEW Y O R K .

CLEARING HOUSE RETURNS.
The following table, made up by telegraph, &c., indicates
that the total bank clearings of all the clearing houses of
the United States for the week ending to-day have been
>2,588,833,123, against §2,664,202,588 last week and
§2,278,445,794 the corresponding week last year.
Per
Cent.

Clearings—Returns by Telegraph.
Week ending July 28.

1906.

1905.

New Y ork__ ________ __ ___________
Boston ______ __ __ _____
Philadelphia_________________________
Baltimore________ ___________ _____
C h ica g o ______ _____________________
St. Louis___________
_____ __
New Orleans_________ _____ ____

SI.298,655,796
121,407,820
116,379,571
20,400,637
173,406,961
44,231,237
12,073,504

S I,128,101,959
109,332,619
101,593,603
17,214,298
149,183,263
45,351,776
12,120,586

4-15.1
4-11.0
+ 14.5
+ 18.5
+ 16.2
— 2.5
— 0.4

Seven cities, 5 days_________________
Other cities, 5 daysI_________ _______

SI,787,255.526
343,278,621

$1,562,958,104
300,008,704

+ 14.4
+ 14.4

Total all cities, 5 days__ ______ _____
All cities, 1 day.

$2,130,534,147
458,298,976

$1,862,966,808
415,478,986

+ 14.4
+ 10.3

Total all cities for week____________

$2,588,883,123

$2,278,445,794

+ 13.6

The full details for the week covered by the above will be
given next Saturday. We cannot furnish them to-day,
clearings being made up by the clearing houses at noon on
Saturday, and hence in the above the last day of the week
has to be in all cases estimated, as we go to press Friday night.
We present below our usual detailed figures for the previous
week, covering the returns for the period ending with Satur­
day noon, July 21, and the results for the corresponding
week in 1905, 1904 and 1903 are also given. Contrasted
with the week of 1905 the total for the whole country shows
a gain of 1 2 .3 % . Outside of New York the increase over
1905 is 1 1 .9 % .
W eek ending J u ly

Clearings at—

1906.

1905.

In c. or
Dec.

[

1906.

21.
1904.

1903.

$
s
New York_____ 1.620.418.222 1,439.283.238
Philadelphia___
148,987,044 125.130.680
Pittsburgh______
50,744.499
49.007.890
Baltimore______
26,209,644
23,766.924
Buffalo................
8,331.660
6,659,750
Washington___
5.231.14 2
5,028*270
Albany. __ .
5 ,108,258|
4.167.5821
Rochester..........
3,244,168
3,291.923
Scranton............
2,128,106
1.864.321
Syracuse_______
1.962,483
1,526.146
Wilmington____
1,240v165
1.168.1 19
Reading__ ____
1.182.574
1.013.024
Wilkes-Barre__
1.005.522
937.610
Wheeling ..........
1.001.690
735.321
Erie .
702.241
545.138
Greensburg_____
589.680
555,269
Chester..........
609.057
485.257
Binghamton___
516.300
474.100
gfunklto____ _
285.400
246.062

s
S
%
+ 12.6 1.268.064,868: 1.253,588,630
164.171.474
124,381,686
+ 19.1
54.997.358
40.831.174
22,275,442
21.917.116
+ 10.3
6,253,451
6,696,963
+ 25.1
3.428.391
+ 4.0
3,679.738
3.891.558
+ 22.6
3.147.026
2.151.888
— 1.5
2.702,138'
1,906.640
1.911.138
+ 14.2
! .120,530
1.238.080
+ 28.6
+ 6.2
1.016.042
1.201.266
1.041.906
+ 16.7
832.496
+ 7.2
854,123
630,998
+ 36/2
728,121
477.969
501.296
+ 28.8
422.336
+ 6.2
354,827
528,640
+ 25.5
458.773
446.600
+ 8.9
406.000
244.339
222,077
+ 5.0

Total Middle. _ 1,879.4™ 855 1.665.886,624
0

+ 12.8 1,519.501.443 1.479,161.555

NO. 2144.
Week ending July 21.

1906.

I'erins oi Subscription—Payable in Advance

P o s t Office B o x 0 5 8 .

28,

Cleariiigs at—

PUBLISHED WEEKLY.

W 1L L IA U

JULY

in the office of Librarian of Congress,Washington, D. O.

1905.

Inc. or |
Dec. 1

S
S
%
158,159,903
142.531,487 + 11.0
7.101,100
7,250,800 — 2.1
3,959,923
2,968,496 + 33.4
2,620,441
2,339,828 +12.0
1,853,323
1.638,497 + 13.1
1,526,654
— 2.2
1,561,425
1,711.382
1,506,269 + 13.6
804,156
676,059 + 18.4
514,857
+ 7.3
479,937
721,517
524,068 + 37.7
450,144
376.362 + 19.6
179,423,400 161,853,228 + 10.9
217,645,170 189,042,456 + 15.1
+ 6.5
25,523,850
23,961,550
15,497,384 + 14.0
17,660,467
12,998,449
10,989,398 + 18.3
+ 3.9
8,809,157
8,481,655
6,444.503 + 21.7
7,843.101
4,398,100 + 10.6
4,863,700
3,898,980
3,279,447 + 18.9
2,509,709
2,656,136 — 5.5
1,951,149 + 12.5
2,195,753
1,603,372 + 17.5'
1,883,120
1,764,124
1,470,087 + 20.01
899,851 — 13.51
778,611
827,231
710,803 + 16.4
729,948 + 22.4
893,770
+ 4.6
562,692
588,534
521,700 + 27.8
666,768
610,392
493,430 + 23.7
414,488 + 35.4
561,397
392,151 + 24.7
488,979
+ 3.7
383,787
398,107
348,009 + 23.7
430,506
383,674 — 17.7
315,811
328,845
371,928 — 11.6
312,154 — 1.5
307,511
295,602 + 35.3
400,000
+ 0.2
280,872
280,223
247.500
225,000 + 10.0
120.548
100,232 + 20.3
315,840,96^ 277.200,909 + 13.9
34,514,400 + 17.7
40,630,759
+ 5.1
9.759,797
10,252,230
7.074,852 + 27.2
9,000,000
4,266,441 + 17.2
5,000,000
4,569,380 + 10.0
4,928,110
3.274,891 + 14.5
3,748,535
+ 8.6
3,442,227
3.738,183
819,260 + 14.3
936,495
429,722
463,356 — 7.3
263.906 + 29.7
342,196
Not included In total
4,043,984
Not included in total
0,000.000
68,448,510 + 16.9
80,006,230
23,729,341 + 10.3
26,166,254
+ 9.0
15.003,138
16,360,584
+ 4.0
9,034,242
9,395,181
6,429,287 + 29.1
8,303,174
6,401,199 — 12.0
5,631.142
+ 2.9
4,236,797
4,359,803
— 2.3
2,499,723
2,441,877
+ 7.6
1.637,124
1,761,132
454,476 + 100.0
909,159
+ 3.9
1.168,801
1,214,055
610,341 + 30.4
795,830
784,711 + 19.5
937*576
+ 6.2
385,195
409,251
+ 7.7
473,555
510,162
+ 14.1
226,670
258,731
In total
1,422,652 Not included
+ 8.7
73,074,600
79,453,911
+ 2.7
53,218,897
54,648,421
17.142,727 — 14.9
14,584,927
10,082,366 + 17.4
11.841,051
6,000,000 + 40.4
8.425,019
5,968.500 — 12.9
5,200,000
+3.4
5,272,648
5,450,481
4,566,230 — 18.1
3,740,551
— 8.5
3,911,137
3.578,713
2,640,111 + 39.2
3,674,866
2,809,315 + 21.0
3.397,985
2,109.098 + 23.3
2,599,786
1.752,221 — 30.2
1,222,897
1,906,825 + 23.9
2,361,713
1.480.000
+ 8.1
1,600.000
1.274.739 — 2.2
1,247,036
1.259.486 — 8.C
1,150,642
1.072,326 + 51.3
1.622.681
1.001.720 + 32.7
1.329,177
886.095 + 33.7
1.184.781
885,596 + 61.2
1.427,689
463,458 — 13.7
399,855
269.954 + 18.2
318,959
+ 4.6
131.007.230 125,973.449
|
Total all.......... '2,664,202,588 2.372,437,320 + 12.3
Outside N. Y . 1*043,784,366 933,174,082 + 11.9
| Ganada—
25,876.291 + 10.2|
28,527,958
Montreal..........
1 Toronto _____ i 21.949.032
20,139,388
+ 9.0
1
7.634.183 + 24.2
9,480.173
Winnipeg_____
2.300,085 + 39.9!
3,217,351
Ottawa___ ___
—5.0)
1,875.316
1.782,258
Halifax___ ___
+ 2.8,
1.870.043
1,921,996
Quebec._______
1.679.335 ' + 0 1 .3
2.708.422
Vancouver.___
1.286.648 ! +25.7!
1,617,232
Hamilton..........
+ 7.9;
1.143.321
1,234,021
B John
1
933.925 i +22.5!
1.1 14.257
London . . . . . .
|
7'+L373 + 12.8
901.840
Victoria . ____
Calgary.............
930.511 Not Included IIn total
06,537.908 + 13.7
74,484,340

Boston ...............
Providence_____
H artford_______
New Haven_____
Springfield______
Worcester..........
Portland_______
Fall River______
Low ell_________
New Bedford___
Holyoke________
Total New Eng.
Chicago________
Cincinnati______
Cleveland...........
Detroit_________
M ilwaukee____
Indianapolis___
Columbus —v._
_
Toledo_________
P eoria_________
Grand Rapids—
D a y to n ________
E van sville____
Fort W ayne___
Springfield, 111 __
Kalamazoo_____
Lexington______
A k r o n _________
Rockford ______
Youngstown___
C a n to n ________
Springfield, O_
_
South Bend____
Q u in cy ________
M ansfield______
B loom ington_
_
Decatur _______
Jacksonville, 111Jackson________
Ann Arbor______
Tot. Mid.West.
San Francisco_
_
Los Angeles____
Seattle ________
Portland_______
Salt Lake City_
_
Spokane________
Tacom a________
Helena ________
Fargo _________
Sioux F alls____
Oakland________
San Jose__...........
Total Pacific, _
Kansas C ity ___
Minneapolis____
O m a h a .......... .
St. Paul________
Denver_________
St. Joseph______
Des Moines_____
Sioux City______
Topeka ________
W ichita________
Davenport_____
Colorado Springs
Cedar R apids_
_
Pueblo _______
Frem ont..........
Lincoln _______
Tot. oth.West
St. L ouis..........
New Orleans__
Louisville_____
H ou ston ______
Galveston____
Richmond ___
Savannah ____
Memphis______
A tlanta_______
N ashville____
Fort Worth___
A u gu sta______
N orfolk _______
Birmingham__
K n oxville____
Charleston___
Mobile . _______
Jacksonville__
Little R ock___
Chattanooga _ _
i Macon ..............
0)1 umbus. Ga__

1904.

1903.

$
127,549,5301 125,820,078
6,140,800'
6,289,300
2,500,363
2,384,353
2,288,301'
2,030,663
1,480,100
1,342,794
1,314,932
1.580,ISO
1,449,292
1,531,678
624,352
608,764
453,727
552,878
463,535
406,491 (
495.479
403,323
144,845,819 142,925,160
157,934,269 159,878,704
21,800,500
28,434,250
16,456.171
13,357,289
9.587.200
9,637,666
7,382,175
7,039,949
6,522,644
6,749,418
4.853.500
4,307,700
3,098,904
3.29S.453
1.810.201
2.303.501
1,844,677
1,778,708
1,573,390
1,630,507
1,078,381
1,094,092
712,223
666,664
604,143
636,700
495,526
436,658
515,790
312,619

666,121
699,410
470,140
704,700
545,153
775,836
538,263
343.863

310,000
181,270
303,744
250,343
178,606
235,227
80.594
242,943,295
25,929,380
6,081,450
3,977,813
3.133,346
3,457,411
2,256,868
1.894,243
794,833
397,956
181,895

325,748
211,601
275,168
256,393
179.75(1
191,548
65,266
242,670,321
26,753,909
5,469,751
4,103,874
2,775,941
2.29S.748
2,068,920
1,848,180
418,411
425,685
288.562

48,105,195
17,486,646
13,206,277
6,077,369
5,633,157
4,137,439
3,088,734
1,830,407
857,820
869,059
916,595
677,229
450,962
403,803

46,451,981
19.06S.956
11,290,201
7,100,415
5,754,508
4,950,344
4.394,098
1,882.419
1,156,794
1,135,747
564,700
677.642
419,667

124,381

123,732

55,356.075
46,018,167
12,795,254
10,423,313
4.699,878
3.159.000
3,858,677
2.S94.343
2.864,161
2,373,012
2 108.417
1.027.859
1.018,863
1,590.7421
1.040.000
1,274,293
943,515

58,519,223
46,153,313
12,717,669
8,903.060
6.340,080
2.892.500
4.352.018
2.3S1,508
2.782,748
2,125,464
2.121.049
1,582.300
63S.075
1,439,260
1,022.130
1,519,870
889.689

296.882
803.099
834.067
651 103
619.007
<98, Hi!
633.000
273.633:
190,641
101.006.371
100,243.995
112.229.701 2.069.972.235
844.164,8331 816.383,605
21.431,378
15.237.301
5.704.549
2.180.249;
1.871.226
1,527,328
1.710.568
1,040.463
1.005.288,
779,437
753.162

21,53.8.948
13,647.157
4,503.489
l ,909,275
1.638.591
1.711.362
l ,606.388
; 7
1.200.023
873.311
502.194

53.246.9s9

60.093.To5

180

THE CHRONICLE.

T H E “ R A I L W A Y A N D I N D U S T R I A L ” S E C T IO N .

The quarterly number of our “ Railway and Indus­
trial” section is issued to-day, and is sent to all our
subscribers. It contains editorial articles on the fol­
lowing topics: “ The Tehuantepec Route” and “ Rail­
road Construction in the Northwest.”
T H E F IN A N C IA L S IT U A T IO N .

[ V O L . L X X X III.

country, the problem that confronts Europe looks
highly inflammable. This suggestion goes way be­
yond Russia’s bond issues, and involves questions of
more moment to the peace of the world than the mere
payment of Russia’s debt, though that feature would
be a fragment among the questions that would call
for settlement.

Has Secretary Shaw got within his gift easy money
during the remaining months of 1906? That seems to
be the question which speculators have settled in
favor of a market here of abundant loanable funds
the coming five or six months. The voice of the public
is that Mr. Shaw at the head of the Treasury Depart­
ment is possessed of sufficient ingenuity, and, since
the success of his bond sale, of sufficient funds, to meet
almost any monetary contingency which is among the
possibilities. One step dwelt upon, as of weight in that di­
rection, is the 25 million-dollar distribution already
noted as having been made among depositary banks.
Some operators may have overlooked the fact that the
25 million dollars have been placed in depositary banks
in all parts of the country with only a few millions of it
in New York as its share. Note further that just prior
to this distribution there were 10 million dollars with­
drawn by the Treasury from the national depositary
banks, the large body of which New York furnished
directly or indirectly through its correspondents.
Again note that our banks have ultimately to meet
the demands of the whole country for crop money
purposes; furthermore, that speculation is rife in
every part of the United States and in no part more
intense than in the interior, where a large part of the
Treasury deposits has been scattered to fan the specu­
lative flame, leaving this centre of trade to meet not
only speculators’ demands, but to move crops probably
the most abundant on record. Affecting this last re­
quirement is the information that comes from some
of the largest interior trade centres that their bank
balances have already been heavily drawn upon in
meeting the demands from their own districts, which
means that their drafts on New York will perhaps
be early and more than a year ago. Probably Mr.
Shaw and our speculators look for the money to meet
any such expanding requirement, and the need to fill
the want which increasing business operations will
call for, to the enlarged bank note currency which the
As to Russian developments, they had, as stated new 2 % bond issues is expected to stimulate.
above, no pronounced effect upon transactions at our
While the New York City bond sale this week must
Exchange except momentarily. The general idea has
been to look at the goings on there as of little moment be considered a distinct disappointment, candor com­
to us. We are inclined to think that the situation is pels the statement that the City Comptroller did quite
not viewed here in as serious a light as the case war­ as well as could be expected under existing circum­
rants. A good many write as if they thought that stances. He offered $12,500,000 bonds and succeeded
Russia, a conglomerate mass, could pass out from in placing only $11,029,100. Moreover, he got only
under the rule of an unlimited despotism to a consti­ a trifle above par for the bonds, which are a 4 %
tutional government without encountering the danger issue, and the cost of the money to the City, reckoned
of reducing to fragments the incongruous materials to the maturity of the bonds, will be 3.94% per
involved in its make-up.
That idea began to be hoped annum. But obviously, conditions were not favor­
for, and continued as a hope so long as the Duma’s able to the floating of the securities. The United
sittings lasted. But when the Czar shut that door States Government had only a few days before placed
to getting out of his entanglements and took to un­ $30,000,000 of Panama Canal bonds which absorbed, or
bridled force, backed by an army 600,000 men strong, will absorb, a large portion of the available cash held
as his sole means for amalgamating his people and by bankers and banking institutions. What is per­
making his subjects love the empire, the long survival haps equally important, this Panama sale absorbed
of that Government has appeared impossible. With the attention of the banking and financial community
revolution and dissolution thus threatening that to the exclusion for the time being of almost every­

The domestic money market, foreign exchange,
the Russian situation and our crop outlook have
■chiefly been in control of security values the current
week, money and crops being interpreted so favorably
as to minimize incidents having a disturbing tendency.
The more threatening situation in Russia, which for
a time convulsed Europe, only momentarily checked
the rising tendency of prices here. As to the railroad
rate law, the date of its going into effect seems to have
been signalized by the breaking out of a very active
rate war among Western railroads. That is to say,
reductions in rates are made effective by the railroads
only until August 25, two days before the inter-State
rate law goes into effect. This was done because the
provision of the new Act as to reduction of rates reads
that no change shall be made in the rates, fares and
charges, &c., which have been filed, &c., except after
30 days notice to the Commission and to the public, &c.
The opinion in railroad circles is that the disagreement
between the roads will be soon adjusted. This inci­
dent, however, readily brings to mind the fear so
recently felt over the working of the rate law. That
had quieted .down in large measure. It began to be
looked upon as a more remote event, not needing to be
dealt with at present. Indeed, a feeling had gotten
to prevail among speculative classes that the law
would not be enforced at least until after election.
Many assumed that it would not be so enforced as to
be a disturbing element, for an indefinite time, perhaps
not until party ends required it, and then the Com­
missioners would show such activity as the occasion
demanded. In the meantime, with 25 millions of
Treasury funds distributed among the national bank
depositaries, it was argued, that with a good chance for
easy money and, with quietness all along officialjlines, a
promising opportunity presented itself, be it short or
long, for a term of speculative activity.

THE CHRONICLE.

Jtjly 28 190 6.]

thing else. Then the Comptroller had no such means
available for insuring the success of his loan as had
the Secretary of the Treasury. He could not offer
as an inducement to intending bidders that the
amount embraced by their bid would be left in whole
or in part on deposit with them or the banking insti­
tutions representing them, or announce that the bonds
would be available as security for such deposits, and
he was powerless to engage in operations for raising the
quoted value of the old issues or to displace other
securities in order to make a market and find lodgment
for the bonds he was offering. Then also the general
bond market is now and has been for some months
in a very apathetic condition. It is true that our
industries are enjoying a greater degree of activity
and prosperity than ever before in the country’s his­
tory, but it is also true that capital seems to be unusu­
ally shy and timid at the moment. To a man engaged
in productive enterprise 4 % interest in times like
the present would, of course, not be particularly at­
tractive. But it is not upon that class of persons
that bond houses rely for the sale of bonds. It is
upon capitalists and investors, large and small, that
they count upon. To moneyed people of that class
a New York City 4 % bond in the neighborhood of
par should look very inviting, and yet these persons
seem strangely indifferent to the tempting opportuni­
ties within reach. Gilt-edged bonds of railroads and
other corporations also apparently do not appeal to
them, for bond dealers and banking houses find the
market for such securities almost completely gone.
Possibly the investor is holding back, waiting to see
what the result is going to be of the whole series of
new legislation enacted recently by State and nation,
and what is to be the outcome of the general tendency
to make assaults on corporations and property rights.
But whatever the explanation, the fact itself is beyond
dispute that investors are not coming forward to ab­
sorb new capital issues.
This is only the second occasion on which the City
has offered 4 % bonds. Previous to last February
the bonds offered for many years past had been 3 % % ,
and it would be necessary to go back only five years
to find the time when the city was able to place a 3 %
issue.
The $20,000,000 4s sold last February
were disposed of on a 3.65% basis, compared with
which the rate paid for the money this week, namely
3.94% , represents a very important fall in the price
of the bonds. Shortly after the February sale Mr.
Frank A. Vanderlip in a public address expressed the
opinion that a New York City 50-year 4 % bond issue
would be eventually be worth 125 and there were many
of us who were quite ready to agree with him. But
the financial institution with which he is connected
had to recognize existing conditions the present- week,
and put in a bid of only
^ for $1,000,000 of the
30-year bonds— and got the whole amount. It is
also well to recognize that the City’s credit is not as
good as it used to be. The mere fact that it has to
pay a higher interest rate for its borrowings would not
necessarily be conclusive evidence on that point.
Other borrowers also have to pay more and this applies
not merely to borrowers in this country but to the
great States of Europe. The simple truth is, money
is worth more everywhere than it was a few years ago.
New York City could not escape being affected by
such an all-pervading influence. Entirely apart, how­

10 3
0

11
8

ever, from the general conditions to which the city
has been subject, the same as every one else, there
are circumstances inherent in the city’s affairs that
have tended to impair its credit and its borrowing
ability. The city has greatly increased its debt in
recent years and is each year making further extensive
additions to the same. We may admit that its aggre­
gate indebtedness is not excessive, having regard to
its wealth and resources, but that does not change the
fact that the supply of New York City bonds is con­
stantly being enlarged and that a market must be
found for these new issues.
Moreover, the city officials are all the time engaged
in devising means for extending the city’s borrowing
capacity. We began during the Low administration
by raising assessed values and have been keeping up
the process ever since, and have also arranged to take
certain classes of bonds out of the debt limit and are
hoping to eliminate still others. The cost of the
Rapid Transit subways and tunnels planned, the
bridges and the innumerable public improvements, if
they should be carried out, would aggregate several
hundred million dollars, and would all have to be paid
for by new bond issues. No one thinks of calling a
halt. Economy in such outlays is not popular. It
would seem now, though, that a corrective is to be
applied in a perfectly natural way. It looks as if
the city were to be stopped from putting out too many
bonds by its inability to find takers for them. The
device of raising the interest rate is no longer avail­
able— except, perchance, through legislative enact­
ment. By Section 169 of the city charter it is pro­
vided that the interest on all corporate stock and
on all other bonds of the corporation shall not exceed
4 % , and by Section 182 it is provided that no proposals
for bonds or stocks "shall be accepted for less than
the par value of the same. If existing conditions
should continue, therefore, the city will have to re­
strict its capital expenditures through deferring the
carrying out of some of the extensive projects contem­
plated— and this, obviously, will not be a bad thing
in its way.
The death of Russell Sage on Sunday last has not
created a ripple on the surface of financial affairs this
week. In one sense this may seem strange, but in
another sense it is not at all strange. Mr. Sage had
acute business sense, and this always prompts a man
to conduct and arrange affairs in such a way that these
affairs shall not suffer through his voluntary or his en­
forced absence. Mr. Sage’s affairs were evidently
arranged in that way. He was one of the largest, if
not the largest, money lenders in the city— certainly
he was the largest private lender— and, as events have
shown, his loans were so made that neither his estate
nor financial interests should be harmed in the con­
tingency of his death. There is, however, still another
reason why his death has not had much effect. He
accumulated enormous wealth, but he was never a
constructive or creative force in the.business life of the
country. We think it can be truthfully said that he
was a money-getter, pure and simple. This money
was not used in reproductive enterprise, but to pick
up shrewd bargains and to loan out in order to make
more money. We say this, not with any intention of
speaking in derogation of his life, but to record the fact.
Of course it follows from this that Mr. Sage cannot be

182

THE CHRONICLE.

considered to have been— having at command such
large means— a vital force in society in the same sense
as the numerous “ Captains of Industry” who have
played such a prominent part in the development and
advancement of the country during the last three or
four decades. He certainly cannot be put in the same
category with leaders like J. P. Morgan, E. H. Harriman
and James J. Hill. These men have been prominent
agents in the business activities of the nation, and to
them the country owes much. To Mr. Sage it owes
nothing, except possibly the example he set of a man
of large wealth living in a plain and unostentatious
way. It is to be noted, too, that such benefactors
of society as the men we have mentioned meet with
the hostility and criticism of the unthinking by reason
of their very activity so beneficial, and are condemned
and denounced, while men who accumulate millions
without employing them in reproductive undertakings
escape harsh notice. About the only criticism that
one hears passed upon Mr. Sage concerns his close
habits; and this closeness in money matters has doubt­
less been greatly exaggerated, as it usually is in the
case of persons of that kind. But Messrs. Morgan,
Hill and Harriman will be remembered long after Mr.
Sage has passed out of mind.
With the growing assurance of large crops the present
season, the1
slight hesitancy in the iron and steel trades
noted at the time of the dissolution of the Southern
Furnace Association a few weeks ago seems to have
entirely passed away. The “ Iron Age” of this city
says the pig-iron markets show an advancing tendency
and that during the past week activity has been marked
in foundry grades in the West and in basic iron in the
East. That midsummer buying of unprecedented
proportions is in progress is indicated, it says, by the
fact that the United States Steel Corporation has
booked a distinctly larger average tonnage this month
than in July 1905, and that the daily average for this
year thus far is much in excess of the daily average up
to July 25 1905. The orders are distributed,, we are
told, through all lines, in both light and heavy ma­
terial. Reference is also made to the remarkable
business taken by the Lake shipyards. Orders were
placed for 11 boats for delivery at the opening of the
navigation season in 1907, these including four 12,000ton vessels for the United States Steel Corporation.
The “ Age” says that in all 27 new boats have now
been ordered for 1907, and the total on the books of
the Lake shipbuilders is 49. This means, it is pointed
out, an addition of 9,000,000 to 10,000,000 tons a
season to the carrying capacity of the Great Lakes.
The danger repeatedly urged in the present campaign
of vessel building, of an over-supply of Lake tonnage,
seems, the “ Age” says, to have no terrors for the large
ore-consuming interests.

[V O L . LXXX1II.

distributed among investors, though as late as June
it was declared that the bulk of the bonds was then
being carried by the primary negotiators, they having
been unable to distribute it.
The total amount
was $450,000,000, and when it was emitted it was
apportioned $250,000,000 to Paris, $65,000,000 to
London and the remainder to Vienna, Amsterdam
and St. Petersburg. It was likewise reported at the
time to have been largely oversubscribed at Paris
and London. It seems possible, therefore, that the
selling this week was by London subscribers, who had
taken alarm at the situation, and that they sold to
realize whatever salvage they could secure from their
investment. Some holders may have later re-bought
in order partly to recover their losses, and there may
have been other buying, as prices fell, for a speculative
turn in the market upon the conviction that a reaction
was likely soon to follow. The recovery Wednesday
also seems to indicate that the previous decline was
not so much due to the abandonment of the invest­
ment by subscribers as has been represented.
There was no change in official rates of discount by
any of the European banks this week; unofficial, or
open market, rates were, compared with last week,
firm at London and at Paris and easier at Berlin and
Frankfort. The political crisis which has been re­
cently developing in Russia with accelerating impetus
reached a climax on Sunday, when the Emperor dis­
solved the Duma. Upon the dispersal of the mem­
bers of the Parliament, the majority assembled at
Viborg, Finland, where a manifesto to the people of
Russia was prepared and later surreptitiously circu­
lated throughout the empire. The news of the disso­
lution of the Duma caused intense excitement upon all
the European bourses, Russian bonds were freely
sold, resulting in heavy declines in all issues, and until
Wednesday the markets for almost all securities
were greatly depressed in anticipation of a revolution­
ary outbreak in Russia. The absence of concerted
action by the people and the evidence that repressive
measures by the Government were likely to be effective
then brought about a recovery on the bourses; re-buy­
ing of securities and indications of substantial support
by strong financial interests, with a view to the pre­
vention of a disastrous panic, contributed to the
partial restoration of confidence, and the excitement
subsided.

The striking feature of last week’s statement of the
New York Associated Banks was the gain of $11.762,000 in cash. The deposits were augmented $20,807,200
r
and consequently reserve requirements increased $5,201,800. The'surplus reserve showed an increase of
$6,560,200 to $19,391,000; loans were expanded by
$9,435,300. The bank statement of this week should
reflect, among other items, the receipt of $909,000
gold from London and of $623,000, by transfer, from
It was reported this week that the continuous fall, San Francisco, the latter representing deposits of
until Wednesday, in the new Russian bonds at Lon­ bullion at Pacific coast points.
don and on the Continent, was due to selling by those
subscribers who were unwilling to meet the last in­
The quite favorable exhibit of bank conditions,
stallment on the loan, which would mature Aug. 1, together with the successful placing of the $30,000,000
preferring, under existing circumstances, and because Panama Canal loan, it having been largety oversub­
of apprehensions of the occurrence of a disastrous crisis scribed, contributed to an easy tone for money, espec­
in Russia, to sacrifice the earlier installments which ially on call. Day-to-day loans were effected at the
they had paid. This statement seemed to show that Stock Exchange during the week at 2J^% and at 2 % ,
the loan placed at the end of April had been largely averaging about 2 } /g % ; banks and trust companies

July

28 1906.J

THE CHRONICLE.

loaned at 2 % as the minimum. On Monday loans
were at 2 } 4 % and at 2 % with the bulk of the business
at 2 M % - On Tuesday and on Wednesday transac­
tions were at 2 % % and at 2 % with the majority at
2%. On Thursday loans were at 23^% and at 2 %
with the bulk of the business at 2 ] ^ % . On Friday
transactions were at 2 } 4 % and at 2 % .with the ma­
jority at 2 % . Rates for money for fixed periods, on
good mixed Stock Exchange collateral, were easy for
short dates and steady for over the year. Quotations
were 33^% for thirty, 3 M @ 4 % for sixty and 4 )4 %
for ninety days, 4 % @ 5 % for four, 5 @ 5 3 4 % for five,
5 K @ 5 % % for six and 534% for seven to eight
months. Commercial paper was dull and unchanged
at 5 ^ @ 5 % % for sixty to ninety day endorsed bills
receivable, 5 3 4 @ 5 % % for prime and 6 % for good
four to six months single names.
The Bank of England rate of discount remains un­
changed at 334% . The cable reports discounts of sixty
to ninety day bank bills in London 3)4 @ 3 3 4 % - The
open market rate at Paris is 234 @ 2 ; ^ % and at Ber­
lin and Frankfort it is 334 @ 3 ;^ %• According to our
special cable from London, the Bank of England lost
£142,268 bullion during the week and held £37,189,724
at the close of the week. Our correspondent further
advises us that the loss was due to shipments to the
interior, the details of the movement into and out of
the Bank being as follows: Imports, £263,000 (of
which £79,000 from Australia, £6,000 from Germany
and £178,000 bought in the open market); and ship­
ments of £405,000 net to the interior of Great Britain.
The foreign exchange market was quite active this
week, at first rising sharply in response to the unset­
tled conditions of the European bourses, then declining
when such conditions improved, and later recovering
on re-buying of oversold exchange. The market be­
gan to rise on Saturday, when there was a good de­
mand for remittance by the steamer sailing in the af­
ternoon of that day, and the tone was somewhat af­
fected by the oversold condition of the market. On
Monday the news of the dissolution of the Russian
Parliament stimulated active buying and the advance
was maintained throughout the day because of the
liberal selling of securities for London account. There
was more or less speculative buying of exchange in
expectation of continued derangement of the Euro­
pean markets, and the inquiry was quite urgent on
Tuesday. The partial satisfaction of the demand for
exchange to cover short contracts and indications that
the threatened political crisis would be averted, to­
gether with a partial recovery in Russian securities in
London and at Paris, caused a downward reaction
in exchange on Wednesday, which was assisted by
speculative selling, and the market was feverish to the
close and generally heavy. On Thursday, after a
sharp fall in short sterling, there was a rapid recovery,
largely due to re-buying of oversold bills, and the tone
was generally stronger at the close of the day, when
there was a good demand for remittance by Saturday’s
steamers. When this inquiry was satisfied on Friday,
rates fell off.
The high rates for exchange at the close of last week
precluded the possibility of profitable imports of gold
from London, and the banks which have been con­
ducting these operations made no effort to compete

183

with the Bank of England or with the bullion dealers
for the metal that arrived at London from South Af­
rica on Monday; consequently the market price of bars
was reduced one penny per ounce, to 77 shillings 9)4
pence. Though the low rates for sight exchange dur­
ing Wednesday seemed to make it probable that, with
cheaper gold, engagements might be effected for im­
port, there were no indications that such a movement
was contemplated, the deranged condition of the Euro­
pean markets discouraging any attempt to procure the
metal for this purpose. There was an arrival of 8909,000 gold from London on Monday, and it is expected
that $1,000,000 will arrive to-day (Saturday).
Nominal quotations for sterling exchange are
4 8234 @ 4 ,8 3 for sixty day and 4 8534 @ 4 86 for sight.
On Saturday of last week there was an advance, com­
pared with the previous day, of 5 points for long to
4 8190@ 4 82, of 20 points for short to 4 8475@ 4 8480
and of 10 points for cables to 4 85 @ 4 8510. On Mon­
day long rose 10 points to 4 8205@ 4 8210, short 40
points to 4 8515 @ 4 8520 and cables 50 points to
4 8550@ 4 8560. On Tuesday long advanced 15
points to 4 8220 @ 4 8225, short 5 points to 4 8520 @
4 8525 and cables 10 points to 4 8560@ 4 8565. On
Wednesday the market was weak at a decline of 10
points for long to 4 8210@ 4 8215, of 20 points for
short to 4 8 5 @ 4 8505 and of 20 points for cables to
4 8540@ 4 8545. On Thursday after a fall in the morn­
ing there was a recovery in the afternoon and the mar­
ket closed 10 points off for long to 4 8 2 @ 4 8210, 10
points for short to 4 8490 @ 4 85 and 5 points for cables
to 8 8535@ 4 8545. The tone was easy on Friday at a
decline of 5 points for short and of 15 points for cables.
The following shows daily posted rates for sterling
exchange by some of the leading drawers:
i
Fri.,
Mon.. Tues., i
July 20 \July 23 July 24
Brown
Brothers & Co
ISight— 4
Baring
J60 days 4
& Co___________ — ISight. . 4
Bank British
J60' days 4
North America . . ..I S ig h t.. 4
Bank of
J60 days 4
Montreal________ ..I S ig h t.. 4
Canadian Bank
J60 days 4
of Commerce----- — ISight.. 4
Heidelbach, IckelJ60 days 4
heimer & Co____ — ISight.. 4
La*ard
) 60 days 4
Freres__________ — ISight. . 4
Merchants' Bank
J60 days 4
of Canada_______ — \Sight— 4

82 H
85'A

85H
81 V
2
85)4
S3
85'A
S3
S5J4
S3
85M
82K
S3 'A
82H
85)4
83
85)4

Ilff
83

86
83
86
83
86

82y,

■:
■

82)4
85H
83
86

The market closed on Friday at 4 8210 @ 4 8225 for
; long, 4 8485 @ 4 8495 for short and 4 8520 @ 4 8530 for
cables. Commercial on banks 4 8175 @ 4 8185 and
documents for payment 4 81 @ 4 82)4 • Cotton for
payment 4 8 1 @ 4 813^8, cotton for acceptance 4 8175
@ 4 8185 and grain for payment 4 82 @ 4 8234 ■
The following gives the week’s movement of money
to and from the interior by the New York banks:
Week ending July 27 1906.

Received by Shipped by
V.
N. Y . Banks. j Y . Banks.

Net Interior
Movement.

Currency__________________ ______
Gold . . . . . .

S9,l 15,000
2,847.000

$2,276,000 Icaln §6,839,000
901.000 Gain 1.883,000

Total gold and legal tenders..........

$11,962,000

$3,240,000 [Gain $8,722,000

With the Sub-Treasury operations the result is as
follows:
Week ending July 27 1906.

Into
Banks.

Olll of
Banks.

Net Change in
Bank Holdings.

Banks’ Interior movem't as above .. 1 $11.962,000
29,317,000
•Sub-Treas. oper. and gold Imports —

$3,240,000 Cain $8,722,000
26,817,000 ,Cain 2,500,100

$11,279,000

S30.057.000 (lain $11,222,100

Total gold and legal tenders---------

The following indicates the amount of bullion in the
principal European banks:

THE CHRONICLE.

184
Bank, ol

July 27 1905.

July 26 1906.
Gold.

Silver.

| Total.

Gold.

| Silver.

\ Total-

£

£
£
£
1
£
£
38,021,410
37,189,724 38,021,410
England.. 37,189,724
France — 116,923,487 42,493,873 159,417,360 117,334,407 44,404,739 461,739,140
Germany. 35.927.000 11.976.000 47.903.000 i 37,701,000 12.567.000 | 50,268.000
Russia . . . 109,267,000 6,006,000: 115,273,000 109,532,000 5.909.000 115,441,000
Aus.-Hun. 47.020.000 ! 12,559,0001 59.579.000 47.237.000 12.971.000 00,208,000
Spain----- 15.179.000 24.715.000 39.894.000 14.873.000 22.395.000 37.268.000
Italy____ 29.663.000 3,928,800 33,591,800 24.108.000 3,327,400 27,435,400
N’ th’lands 5,521,300 5,789,300 11,310,600 6,382,800 6,249,200 12.632.000
Nat.Belg . 3.224.000 1,612,000 4.836.000 3.192.000 1.596.000 4.788.000
3.570.000
3.875.000 3.570.000
Sweden . .
3.875.000
It •
)
Total week 403,789,511 109,079,973 512,869,484 401,951,617 109,419,339 511,370,956
Prev .week.401,674,825 108,389,751 510,004,576 398,943,533 109,097,371 |508,040,904
1

TH E CZAR A N D

THE D U M A .

Notwithstanding the incredulity with which pre­
dictions to that effect had been received in the world
at large, the Czar has taken violent action toward the
dispersal of the Duma. W e use the phrase “ violent
action,” because the manner in which the national
legislature called by himself was dismissed had no
resemblance whatever to the dissolution of Parlia­
ment, as that term is understood in modern civilized
States. The charter of rights, whereby the Duma
was created, provided that “ the Duma may be
dissolved by the Czar before the expiration of the
five years” which made up the normal term of that
body. But in order to appreciate the character of
the sovereign’s action of last Saturday, one would
have to conceive the British sovereign, for instance,
when persuaded by his Cabinet that the party must
go to the country, thereupon posting soldiers at every
entrance to Westminster, threatening members of
Parliament with indefinite imprisonment if they ven­
tured to approach the Halls of Legislature, and
arresting them if they protested. W e are aware that
the parallel is far from exact, but it is only by such
comparisons that one can realize how far away from
a normal and rational constitutional basis the Russian
Government still stands.
Dismissing the Duma at the point of the bayonet,
the Czar put forth a manifesto defining his course of
action. He admits in this document that the new
Russian Parliament had been called by him and that
he had “ expected benefits for the country from their
labor.” What these benefits were to be, the Czar’s
manifesto shows when it goes on to explain that the
Duma, “ instead of applying themselves to the work
of productive legislation, strayed into a sphere beyond
their competence and have been making comments
on the imperfections of the fundamental laws, which
can only be modified by our Imperial will.” In other
words, the Czar had apparently expected that the
Duma would cheerfully and obediently take up
whatever schemes the Imperial Government should
propose, go through the motions of enacting them into
law, and then leave the Czar and the Cabinet in peace.
It was to be a sort of ratifying body, like the senates
of Napoleon I. It is, undoubtedly, with such a legis­
lature in mind, that the Czar further asserts his
“ immutable intention” of retaining the system of
the Duma, naming next March for the convocation
of a newly-elected body. He expects a subservient
body; otherwise the suggestion, on the heels of the
violent action against the recent Duma, would have
been absurd.
There were several possibilities as a result of the
Czar’s so-called coup d’etat. If the Duma had relied
on widespread disaffection in the army, it is con­
ceivable that they would have resisted against the
Czar’s manifesto and have insisted on retaining their

[V ol.

lxxxiii .

Hall of Legislature. It was presently evident, how­
ever, that though the army may be disaffected in the
case of a good part of its membership, it is still as a
body loyal, or at all events obedient. That it can
be depended on by the Czar in an emergency was
shown by its use in the dispersal of the Duma.
Retired to Finland, the Duma delegates, acting as
exiles, but claiming still to be a lawfully constituted
body, proceeded to deal with the situation. In this
attempt they were forcibly obstructed by the Gover­
nor of the Province and required to leave it— not,
however, until a very remarkable document had been
put forth under authority of the Duma majority.
This proclamation stated, first, that the competence
of the Duma, as set forth in the grant of rights,
extends to “ departmental, ministerial and national
budgets;” it therefore goes on to argue that, the
Duma having been arbitrarily dissolved, the ma­
chinery of legislation for providing revenue and loans
is no longer in legal shape. If, then, under
existing circumstances the Russian Government is to
attempt collection of taxes, the Duma calls on citi­
zens to resist such unlawful levy. If recourse be had
to foreign loans, the loans must be considered
invalid.
It is too early yet to conjecture just how far this
declaration will take root in the Russian public's
mind. The argument for the Duma’s position is
precisely the argument which has been employed by
all parliamentary governments which have succeeded
in modern history. It was on this constitutional
ground that Hampden refused to pay his ship-money
tax to Charles I ., and it was in logical sequence to
this argument that the Long Parliament engaged in
its successful struggle with that sovereign. The con­
tention throughout Parliamentary history has been
that, once the popular assemblage is granted a voice
in raising money from the people, money cannot be raised
from them except by its consent. It is only fair to point
out that the Duma’s argument for possession of such
power being based, in a sense, on technicalities, may
not be so influential in producing practical results as
it was expected. Its result, we should imagine,
would be more pronounced on the market for Russian
loans. When one recalls the moral effect produced on
the European markets by the vague threat of repudia­
tion by an excited Socialist after the “ January mas­
sacre” of 1905, it would surprise very few people if it
were foreign markets rather than domestic citizens
which should attach most importance to the Duma’s
threat.
Events move with such swiftness in the Russian
situation, when they once begin to move, that most
people naturally hesitate in framing predictions for
the future. It is by no means clear as yet precisely
how the new move is to affect the sentiment of Russia.
Outbreaks of violence which had begun before the
Czar’s dispersal of the Duma have continued, as they
naturally would; yet it can hardly as yet be said that
they have grown more general. In some respects the
action of the autocracy seems to have been received
with a sort of lassitude. Efforts to cause, in retaliation,
another general strike are not meeting with success;
in the Duma itself a small fraction has taken its posi­
tion publicly against any opposition to the Czar’s new
policy. This suggests to the mind at least the possL
bility that a part of the Russian people, weary of

Ju ly 2S 1906.]

THE CHRONICLE.

turbulence and anarchy , has lapsed into hopeless in­
difference, choosing known conditions, bad as they may
be, rather than the unknown, which might be infinitely
worse. The mere assertion of power and strength
will sometimes lead to such a state of mind in a troubled
nation. We ourselves have been known, at national
elections, to cast great majorities for a party whose
program was not approved by a great part of those
who voted f or it; the motive for such support by the
electorate being resentment at the failure of the other
party to achieve what had been expected of it, and
willingness to try another party which at least pro­
posed, in the American phrase, to “ do things.”
We do not say that this is yet the conscious attitude
of the Russian people or that it will be later on. It
would be premature to allege with confidence even that
outbreak of revolutionary violence against the Czar
is not now to be witnessed. But the Russian tempera­
ment is mercurial; the Slav, by instinct a dreamer,
excited and elated when realization of his dream seems
near at hand, sinks into equally profound depression
and discouragement when disappointment follows.
It remains yet to be seen how far this state of mind
will govern the progress of events these next few
weeks or months.
Up to the present time one element of undoubted
strength in the popular cause has been the capacity of
the Czar and his counsellors to make mistakes. They
have not been free from blunders in the few days since
the coup d'etat. Suppression of newspapers, aggres­
sive censorship and wholesale imprisonment of citi­
zens by administrative process will hardly lead the way
even to apathetic submission. The new Premier, M.
Stolypin, an honest but far from brilliant statesman,
promises in his frequent bulletins and interviews that
the Czar will carry forward the agrarian reforms on
which the Duma took no action. It is a dangerous
promise, because it places the Imperial Government
in exactly the position occupied lately by the Duma—
namely, that the peasants, making up more than 80%
of the Russian population, expect and demand con­
cessions in that direction which conservative judgment
cannot grant. Had the majority in the Duma been
willing to vote outright for wholesale alienation of
unimproved Russian lands for the benefit of the peas­
ants, it would at least have escaped the taunt of the
Government that it had sat nearly three months
without doing anything. But if anything is certain
in the Russian situation, it is that the Imperial Gov­
ernment will not grant what even the Duma majority
demanded. If Stolypin were to offer, later on, only
the trifling relief provided by distribution of the Crown
lands, and if repression and tyranny were meantime
to resume full sway, what could the Government pos­
sibly expect from the promised March elections?
M/hat, on the other hand, could the Czar expect if he
breaks his promise of convoking a new Duma?
Much therefore rests on the policy of the new
Premier and his Cabinet. Their task at best is of
enormous difficulty— not less so with a Court cabal
triumphant at the results of Saturday’s coup d’6tat,
and more than ever determined, it may therefore be
assumed, to make no terms with the advocates of
popular liberty. In such a situation prediction is
always hazardous. No turn in events would surprise
the outside world, already baffled and completely
nonplussed at the course of affairs in Russia.

185

O U R T R A D E B A L A N C E , IS IT A S LA R G E A S IT
SEEM S?

The question what becomes of the large trade
balances in the country’s favor as shown by the official
statistics has been a puzzling one for many years,
but is becoming still more perplexing with the enor­
mous growth in our export trade and the constant
further additions to these annual balances. In the
fiscal year ending June 30 1906 we imported net
$57,653,320 gold as against a net export of the metal
in the previous fiscal year of $38,945,063. And yet,
even after .deducting this influx of gold, there re­
mained apparently a balance oh the year’s accounts
in the case of merchandise and the precious metals
combined— that is, there remained an excess of ex­
ports of merchandise, including silver and gold,
over the imports— in the large sum of $480,941,163.
Similarly in the previous fiscal year there was
an excess of exports over imports in amount of
$461,357,605; in 1903-04 an excess of $473,848,406;
in 1902-03 an excess of $416,617,778 and in 1901-02
an excess of $496,446,285. In 1900-01 the excess
was as much as $679,625,475. Thus, for the six
years, the average balance has been well over
500 million dollars per annum. This seems a sum
very much in excess of the amounts needed to offset
the annual requirements for ocean freight, for interest
on foreign-owned American securities, for expendi­
tures by Americans travelling abroad, for undervalua­
tion of imports, and other sums due by us annually
to the outside world. Even after allowing for a con­
siderable amount to cover the re-purchase of United
States stocks and bonds held abroad, it appears diffi­
cult to explain satisfactorily the disposition of such
large balances year after year.
We do not intend to-day to go into a discussion of
the general subject of what the sum annually due by
us in the various ways mentioned may be, for we can
throw no new light on that aspect of the controversy.
It appears to us, however, that there is one point con­
nected with the trade returns that is being quite
widely overlooked. Is there not a decided probability
that the recorded totals of exports, rising in magnitude
with every succeeding year, are too favorable to this
country? No doubt the general public imagines that
these statistics, showing the results down to the last
dollar, are absolutely accurate and exact and that no
element of doubt or uncertainty can or does enter
into the same. But unfortunately that is not the
case. To those cognizant of the difficulties which
beset Government officials in the collection of these
returns, it is otrvious that the results are far from
exact; that, indeed, they are to a considerable extent
based on estimates, often on conjecture, and hence
that it is not at all possible to speak with absolute
certainty regarding the same.
This being so, a little reflection will convince the
reader, we are sure, that without the least connivance
on the part of Government officials, a tendency exists
to overstate the value of the exports and to understate
the value of the imports. This circumstance alone
would make it certain that the apparent trade balance
— the recorded excess of exports over imports— is
certain at all times to overtop the mark. The imports
are likely to be undervalued because duties are in so
many cases levied on the value of the goods and no

186

THE CHRONICLE.

importer is desirous of paying more for duties than he is
obliged to pay. Probably the undervaluation is now
smaller than at any previous period in the country’s
history, owing to the severe penalties imposed for
undervaluation and the strict examination and super­
vision exercised by customs officials. Indeed, it is
contended by many that the import figures are as
nearly accurate as it is possible to make them. The
shipper abroad, it is well enough to say, is compelled
to prepare an invoice of all goods destined for this
country and to swear to it before the American Consul
in the country from which the importations to the
United States are made. Furthermore, when the
goods reach this country they are examined by a corps
of appraisers who are familiar with prices abroad and
who are especially selected for their knowledge of
values and grades of goods. These appraisers put a
price on the goods imported, and any attempt, there­
fore, to understate to any serious extent the invoice
price is sure to be detected. Of course a certain
amount of smuggling is all the time going on, not­
withstanding the utmost vigilance, and the importer
may be relied upon to see that the customs officials
do not value the imported goods too high. Accor­
dingly, though the deviation from the true values
may not be very great, yet, as a general proposition,
it may be truthfully asserted that the import figures
will err on the side of being too low.
In the case of the exports the situation is entirely
different. Here there are many incentives and in­
ducements for the shipper or consignor to report the
results larger than they should be and the Government
officials are powerless to prevent it . For many classes
of goods, particularly articles of manufacture, prices
in the United States are higher than anywhere else
in the world. Yet we export considerable amounts
of such goods. It is obvious that these goods do not
go out at the home prices, but at some figure con­
siderably lower. Indeed, the fact is notorious that in
many lines of trade the foreign purchaser is able to
buy here very much more cheaply than the domestic
purchaser. So much so is this the case that the prac­
tice^ as everyone knows, is often sharply criticised
and not infrequently severely condemned. Does the
exporter under such circumstances undertake to state
the price actually received by him plus the cost of
freight to the point of export, which would give the
true export value, or is he apt to report market price
at home? Obviously it is not to his interest to let it
be known how much less he is asking for the goods
shipped abroad than what he is demanding for the
same goods at home. But even where there is no
marked disparity between the home price and the
price to the foreign purchaser, there is a natural dis­
inclination on the part of an exporter or consignor to
let his competitors at home know (for they may be
competing with him in the foreign market) at what
price he is letting his goods go out. Hence the goods
are likely to be billed at the home price rather than
at the selling price.
It may be asked, Do not the returns have to be
sworn to, and is not that a deterrent upon overstate­
ment of the values? The returns do have to be sworn
to, but there is nothing in that circumstance to pre­
vent an exporter from giving the current market
price rather than the price received by him. The
statistics at the Custom House are compiled from

[V O L . L X X X III.

manifests of the cargo of the vessel carrying the goods
filed with the Collector by the ship’s captain or master,
or other person in charge of the same. Every shipper
or exporter intending to make a shipment is com­
pelled to swear to a manifest at the Custom House
giving the quantity and value of the goods it is in­
tended to send out. This shipper’s manifest is then
turned over to the steamship agent (otherwise the
shipper cannot secure his bill of lading) and the
captain of the vessel uses these shipper’s manifests to
prepare his own manifest. As the ship, however,
generally sails before all the shippers’ manifests have
come in, the captain swears to a partial manifest and
the steamship agents are then allowed four days in
which to prepare the complete manifest.
Now what is the form of oath the shipper is obliged
to subscribe to? He swears that the quantities and
values of each article are truly stated '‘ according to
their actual cost, or the values which they truly bear in
this port at this tim e.”
It will be seen that the shipper
is not at all obliged to give the selling price of the goods,
but merely the value ruling in the port of export at
the time of exportation. W e have made inquiries of Cus­
tom House officials and Custom House brokers and
steamship agents on the subject and find that the belief
quite widely prevails that in such circumstances the
practice in large numbers of cases is to give the market
value— in shipments from this port this would be the
value here in New York. W e were told, too,
that where goods are shipped subject to a discount
of 2 5 % or 3 0% it is not at all uncommon to state in
the clearance papers the price without deducting the
discount, though one export house expressed the
opinion that the discount was usually taken off.
One person consulted, and who is able to speak with
a full knowledge of the facts, stated that some latitude
must necessarily be allowed exporters in preparing
their manifests, as the shipper, having fifty or a hun­
dred competitors, would not care to state the actual
selling price of the goods exported, as this would be
supplying information to his competitors which he would
not care to have divulged. Accordingly, the shipper
gives, this person said, an approximate figure which
may represent the market price but not necessarily
the selling price. Then it might happen that a cata­
logue price was used which in actual experience might
be subject to a heavy discount. Often, too, the value
may be merely approximate, the exporter entering
simply a round figure upon his blank. Sometimes the
valuation figures may be what the shipper thinks his
goods are worth, and which may not be the selling
price. He is asked to give the “ value” of the goods
and not the selling price. Customs officials do not
press the exporters too closely and do not look up the
figures unless they are glaringly wrong. Moreover,
where the figures conform to market values the clerks
in the Custom House really have no means of knowing
that they are not in accord with the facts, no matter
though the selling price may actually be very much
lower.
If the exporter has any scruples about making an
inaccurate statement, he can let his Custom House
broker or ship agent file the statement and swear to it.
As a matter of fact brokers and agents are frequently
obliged to estimate the value of the goods exported,
the consignor neglecting or purposely omitting to
furnish any information on that point. In such

July 28 1906.]

THE CHRONICLE

cases the ship agent or broker makes the best estimate
he can, using catalogue pi'ices or newspaper quota­
tions, and if there have been concessions from such
market prices, as is likely to be the case, the fact does
not appear in the Custom House return at all. We
have found no one who was not ready to admit that
the export values might be a “ little” high, while some
well-informed persons estimated the deviation from
the correct figures at very large amounts. The chief
Custom House man for one of the steamship lines
which is a very large carrier of export freight expressed
the opinion that the extent to which the export values
were exaggerated was fully 2 5 % , and he thought hat
20% would be a very conservative estimate. Of
course this would apply only to exports of manu­
factured goods, but our exports of manufactures in
the last fiscal year were 600 million dollars, and 20%
on that would represent $120,000,000.
Obviously in the matter of the exports of agri­
cultural products, which form such a large percentage
of the total merchandise exports, there would be little
chance for any large deviation. In the case of grain
from the West or cotton from the South shipped to a
foreign port on a through bill of lading— the method of
procedure so largely employed— the values are reported
by the railroad company and should be quite accurate,
as they are furnished by the shipper, who apparently
would have no reason for misrepresenting values.
Even in these instances, however, it seems to be a not
infrequent occurrence to include in the value not only
the cost1of railroad freight to the seaboard but also
the ocean freight to the port of shipment on the other
side. If we were dealing with agricultural exports of
small amount, this inclusion of ocean freight charges
would be a matter of little moment, but the agricul­
tural shipments last year were valued in the neighbor­
hood of T.000 million dollars, and even a trifling per­
centage of error on so great an aggregate yields a large
sum, as can readily be calculated. In the case of the
exports of manufactures it is a matter of common
knowledge that many articles, such as typewriters,
bicycles, sewing machines and the like can be bought
for export at a reduction of one-third to one-half from
the home price. If in these instances the practice is
widely followed of using the home market price rather
than the selling price, the percentage of error must
manifestly be very large. There is no way of testing
the official figures in that regard except in very rare
instances, since quantities often are not given at all,
or where given are reported in packages which afford
no reliable clue to the contents— for instance a case of
sewing machines might contain one complete machine,
or more, or it might contain various parts of a machine.
The thought suggests itself whether exporters, in
overstating the figures, do not run the risk of having
their wares and goods assessed higher for duty on the
other side in case of shipments to countries levying im­
port duties on such articles. The answer is that the
export manifests are filed with the Custom House
officials in this country, where they remain, and are
never seen on the other side. In making an export
to a country having a protective tariff, the shipper
here— say in New York— prepares a consular invoice
to which he swears before the Consul representing the
country to which the goods are destined. He naturally
makes the valuation of this invoice as low as he con­
sistently and prudently can, to reduce the duty to the

187

lowest figure. There is nothing, however, to prevent
him from entering a much higher valuation on his
clearance manifests, since these manifests, as already
stated, do not leave the New York Custom House.
At all events, whatever the value reported here, the
return does not come under the cognizance of the
Customs officials in the port of destination.
We think enough has been said to show that in
attempting to explain what becomes of the exceedingly
large excesses of exports over imports as given in the
official statistics, allowance must be made for this
obvious overstatement of the export figures. Just
what the allowance should be we confess ourselves
unable to determine. The tendency to exaggerate
has always existed, but the matter is of vastly greater
moment now, since the exports are rising to such enor­
mous proportions. Ten years ago, in 1895-96, our
total merchandise exports were reported at only $882,606,938. For the year just passed, 1905-06, they are
given at $1,743,763,612. An error of 5 % in this lat­
ter total would mean $87,000,000. An error of 10%
would mean $174,000,000. We do not undertake to
say that either the larger amount or the smaller
amount would be safe to use, and we doubt whether
even the Bureau of Statistics could tell. It all de­
pends upon the extent to which the practice is pursued
of stating the market value of the exports instead of
the selling values, and this could be determined only
from an extensive examination of ship agents and
Custom House brokers at the various ports through­
out the country. Indeed, we doubt that such an in­
vestigation, if undertaken, would tend to clear up
the matter— though it might insure more nearly ac­
curate returns for the future— since very naturally
shippers and their representatives would not be in­
clined to furnish information tending to reflect upon
themselves or to discredit the returns which they had
been making to the Government. The facts obtained
by us, as narrated above, were given us under reserve
and in every case on condition that we refrain from
divulging the identity of the authors.
IN T E R C H A N G E A B L E

M IL E A G E

BOOKS.

The time may come when all railroads will join in an
interchangeable mileage book or ticket, good to bearer.
There seems to be no more difficulty in arranging
periodical settlements with one another, on the clear­
ings plan of offset and balance, in case of such an
evidence of transportation, than in case of through
tickets in coupon form. The compensation for the
reduction of a cent or about a cent per mile would be
the same as in case of mileage books now in use: the
increased travel which a commuted rate produces.
There is already some of this joint or interchangeable
business done, and the State of Pennsylvania has an
equity suit pending against the Pennsylvania, the
Lackawanna, the Lehigh Valley, the Cumberland Val­
ley, the Buffalo & Susquehanna and the Erie, which
have such an arrangement between themselves, the
complaint being that the terms are not liberal enough.
The answer to the complaint denies that the sale of
this ticket is limited to “ such persons as can read,
write, see, hear, and understand;” also “ that there
are too many exceptions and restrictions as to the
use of said tickets.”
The conditions of sale are mainly that 1,000 miles
of transportation are sold for $30, to be “ used ex-

188

THE CHRONICLE.

clusively by the owner within one year” ; that he must
sign the contract; that a rebate of $10 may be had by
sending the cover of the ticket to a bureau in this
city, within 18 months from date of sale; that any
unused portion will be redeemed on the basis of
charging first-class rates on the portion used; that
nothing will be done for an owner whose ticket is lost
or stolen; and that there will be no refund unless the
cover is transmitted to the bureau within the time
limit. The purchaser is required to write his name on
a slip which is retained by the road, and whenever the
ticket is presented he is to write his name anew, that
the conductor may compare it with the original. If a
person cannot write, the ticket agent is required to in­
form him that there will be no rebate and to suggest
some ordinary form of ticket; should he persist, the
ticket will be furnished, and an entry made that the
purchaser cannot write. This rule is for the purpose of
restricting the ticket to use by the purchaser. There
are also some restrictions as to the parts of the line
upon which these tickets are available.
The State of Pennsylvania, it seems, holds that
there are too many exceptions and restrictions; but
this would seem to be left open to opinion, par­
ticularly to the opinion of the prospective purchaser,
who is free to refuse the restricted ticket if he does
not see sufficient advantage in this form of transaction.
As for those who cannot “ understand,” it certainly
seems that a common carrier has fulfilled its duty
when it has explained and that it cannot justly "be
deemed responsible for lack of comprehension in others.
There are many cases of complaint, and even of law­
suit, against life insurance companies by persons who
allege that their contracts do not come out according
to the way they understood; but if the vendor, when a
corporation is the one, is to be bound by the pur­
chaser’s misunderstanding of a contract which states
its terms on its face and is or may be verbally ex­
plained to him at the time, how can any private
dealer escape being held to what his customer claims
to have supposed?
When railroads, as an inducement to travel, choose
to offer excursion, or commutation, or wholesale rates,
it seems to follow that they may attach limitations,
so long as those are the same to all persons. No one
can be compelled thereby, for the option to buy the
regular unlimited ticket is open, and if one chooses
any other it is because he thinks that other preferable
on the whole. Certainly we may each of us have
our own opinion as to the liberality or lack of liberality
in the terms offered, and we'may denounce the cor­
poration as meaner than dirt or any other mean thing
— that is our personal right, and one of the advantages
of living under free institutions. But when the
Commonwealth, in either State or national form,
undertakes to set up its own opinion about what con­
stitutes liberality, does not this make two assump­
tions: that a carrier is bound to attempt reduced
rates in certain cases; and that somebody other
than itself is to be judge whether the liberality which
it attempts is large enough?
Of course, the outlook cannot stop just there. For
this suit is another example of the drift towards co­
ercing vendors. And as we have been compelled by
the nature of the case to point out, there is no natural
and fixed stopping-place. To force the seller to accept
the terms which suit us in our capacity of buyers is an

[Y ol.

lxx xiii .

attractive process because of its immediately agree­
able results, and it tempts us to bring up specious ar­
guments (which can always be found) why the terms
which we desire are fair and just in the particular
case. Thus we are liable to fail to note whither the
process tends. But if the buyer is to say, with laws
and courts behind him, what prices and terms are
fair, the time must come when the only persons not
coerced will be those who have nothing to sell. Then
there will be losses and inconveniences as well as
gains, and perhaps we shall be no better off in net
result than we have been under open competition;
this view omits the question of principle, which ought
ever to be kept at the fore under a democratic govern­
ment.

A

LESSON

FROM

EUROPE

IN

GOVERNM ENT

O W N E R S H IP O F R A IL R O A D S .

In the June number of the “ Journal of Political
Economy” there appeared an article telling of Italy’s
experience in the building and operation of railroads
which furnishes an interesting and instructive object
lesson to those advocating Government control of
things generally. It is a record of disaster and failure.
The matter is of interest because in this cou n ty the
movement in favor of extending and enlarging the
functions of Government is gaining force, and those
who advocate the taking over by Government of the
control of all corporations performing public pr semi­
public functions are growing more insistent in their
demands. Italy’s experience of course will not count
for much among those who fly in the face of all ex­
perience or among those who, like Mayor Johnson of
Cleveland the present week, are ready even to defy
the courts when they have their minds set on carrying
out some particular pet project or scheme. To those,
however, who are in a receptive mood, who are not
wedded to fancy or Utopian ideas, and who have no pre­
conceived notions which must be supported at all
hazards, the history of Italian railway ownership will
not appeal in vain.
The article referred to is by Hugo R. Meyer, Assist­
ant Professor of Economics in the University of Chi­
cago, and its title is “ The Disastrous Results in Italy
of State Railway Building.” The general results as
to the failure of the Italian policy have been pretty
well known for some time, but the facts have never
been brought out in quite such a striking way as in
the brief narrative furnished by Mr. Meyer. He re­
views the history of the last thirty years, and at the
outset he shows how, when a Government enters upon
a step of that kind, its difficulties steadily increase
and how all the time it finds itself confronted with new
and larger demands. The Italian Government began
the purchase of railways from the existing railway
companies in 1868; and in 1887 it launched out upon
the building of railways. In the last-mentioned year,
when the railway mileage, State and private, was
5,125 miles, the Minister of Public Works, Signor
Depretis, introduced into Parliament a bill proposing
the building of 27 railway lines aggregating 1,235
miles in length and estimated to cost $103,000 a mile,
or $127,000,000 in the aggregate. Shortly afterward
the Government in which Signor Depretis was Minister
of Public Works was displaced. Signor Baccarini,
the new Minister of Public Works, brought in a bill

July

28 1906.j

THE CHRONICLE.

proposing 38 lines of railway, aggregating 2,255 miles.
Fearing to stagger Parliament with too large a total,
he placed the estimated cost per mile at the arbitrary
sum of $74,700, or $168,500,000 for the whole mileage
proposed.
The Parliamentary committee to which the bill of
Signor Baccarini was referred improved on this propo­
sition. It reported in favor of building 52 lines,
aggregating 2,760 miles and estimated to cost $73,800
a mile. Then the Government, after canvassing Par­
liament, revised its measure, and proposed to build
58 lines aggregating 3,430 miles and estimated to cost
$72,900 a mile. Subsequently, in order further to
placate Parliament, the number of railway lines was
raised to 64, the total number of miles to be built
increased to 3,762 and the estimated cost reduced to
$64,300 per mile. This proposal the Act of July 29
1879 authorized. The lines were to be completed by
1900, the aggregate cost being put at $242,000,000. A
part of the cost, namely $24,000,000, was to be con­
tributed by the local governing bodies whose territory
was to be served. The railway construction proposals
had been increased so rapidly— from 27 lines aggre­
gating 1,235 miles, in 1877 to 64 lines aggregating
3,762 miles in 1879— that there had been no time to
prepare estimates of cost based on adequate surveys
and specifications. Owing to the pressure brought
to bear by members of Parliament, the Government
was obliged to let contracts on these imperfect speci­
fications and surveys. Contractors were ready to
undertake contracts on such terms and at ridiculously
low prices, knowing that they would have abundant
opportunities to cover their losses and make large
profits by charging the Government fancy prices for
work not specified in the contracts. Thus in 1879
and 1880 contracts were let for some 927 miles at
$50,300 a mile. By June 1883 the charges for work
not specified in those contracts had raised the cost of
the 927 miles to $115,200 a mile.
But the popular demand for railways was so strong
that the Government had to pretend to believe that
the low figures at which contracts were being let
covered the whole cost of the railways. The result
was the development of a public opinion to the effect
that the 3,762 miles authorized by the Act of July
29 1879 would not cost $64,300 a mile, and
that the State might therefore proceed much more
rapidly with construction than had been proposed in
1879. Accordingly, an amended Act was passed in
1882 changing the date for the completion of the 3,762
miles from the year 1900 to the year 1894. By 1885
it was realized that the State would be called upon to
raise annually, not the $12,000,000 anticipated in
1879, but two, three and four times that sum. By
that time the resources of the State were so completely
exhausted that the Government was unable any longer
properly to maintain the roadbed and rolling stock of
those railways which it was itself operating. The
Government realized that unless it should succeed in
leasing the State railways to some one who could
maintain them, the State railways would break down.
A royal commission reported that it would take no less
than $41,695,000 to put roadbed and rolling stock in
good repair. A further consideration inducing the
Government to decide upon leasing the State railways
was that such leasing would give the Government the
chance to sell its rolling stock to the lessee. #

189

Such were the financial straits of the Government of
Italy at that time, we are told, that the chance to*
raise $53,000,000 by selling the rolling stock of the
State railways was an important factor in inducing
the Government to conclude to abandon the experi­
ment of operating the railways. By the Act of April
27 1885 the Government leased all of the State rail­
ways to companies, on terms that proved exceedingly
burdensome to the taxpayers of Italy, and yet were
not unduly favorable to the companies. As a matter
of fact, some of the lines authorized in 1879, it is stated,
are even yet not earning operating expenses, to say
nothing of the interest on the capital invested.
In 1888 the Italian Parliament passed an Act under
which the lessees of the State railways agreed to aid
in completing the building of the lines authorized in
1879. The State found the task too big for it. This
Act assumed that the cost of the lines would average
$128,300 a mile instead of the $64,300 originally
fixed. The State, however, continued its contribu­
tions, and hence we find that, against the expenditure
of $242,000,000 planned in 1879, the capital invest­
ment in the period from 1890 to 1901 had reached the
huge sum of $985,400,000— 6 7% of which, or $661,200,000, was contributed by the State, and 3 3 % ,
or $324,200,000, by the lessee companies.
During this period of 12 years from 1890 to 1901,
with the average amount invested $985,400,000, the
Italian railways earned an average of only $14,345,000
a year above operating expenses, equivalent to an
average return of only 1.456% . But under the terms
by which the companies had leased the railways owned
by the State, and had aided in completing the building
of the lines authorized in 1879, the State had been
obliged, in the period from 1890 to 1901, to turn over
to the lessee companies not only the whole of the net
earnings on the whole of the railways— an average
annual sum of $14,345,000— but also an additional
annual average sum of $1,488,400. Throughout the
period 1890 to 1901, therefore, Italy not only received
no interest on its average investment of $661,200,000,
but in addition was obliged to pay the lessee com­
panies $1,488,400 a year. As the average investment
of $661,200,000 called for $29,754,000 a year in inter­
est, to be paid to the holders of Italian bonds, thetotal loss to the State each year averaged, it is figured,
$29,754,000 plus $1,488,400, or $31,242,400. That
loss constitutes an annual burden upon the taxpayers
of Italy. The State recently resumed operations of
the railways, but Mr: Meyer says the prospect is that
the burden will increase rather than diminish under
this resumption.
It is further pointed out that the experience of Italy
with State railway ownership and building has been a
repetition of the experience of France, of Russia, of theAustralian colonies— in fact of every important
country, except Prussia, that has entered upon the
ownership and building of railways. Mr. Meyer well
says that under building by the State the burden of
misdirected investments, due to errors of judgment or
the bribing of constituencies by log rolling, falls upon
the taxpayers. Therein lies the great disadvantage of
railway construction by the State as compared with*
railway building by private enterprise, or companies.
Misdirected investments and premature investments
are bound to be made, whether the railways be built
by the State or by companies. But, under building

H iO

THE CHRONICLE,

by the State, the burden of those errors falls on the
taxpayers, whereas, under building by companies, it
falls upon the stock and bond holders. Mr. Meyer
declares that, with the exception of Spain, Italy is
the most heavily taxed country in the world, and this
unfortunate condition he attributes in large measure
to the policy of the Government in assuming the own­
ership and extension of the railway system. As al­
ready stated, the country has once more entered upon
the policy of operating and building the railways.
Yet the Italian people do not seem to appreciate that
the fiscal burdens they are staggering under have re­
sulted mainly from the errors in the country’s railway
policy. Mr. Meyer makes the very pertinent obser­
vation in concluding his article that one of the most
striking, as well as one of the saddest, things about
public intervention in the field of industrial activity
is that no matter how disastrously such intervention
works, the public does not become aware of the dis­
aster.

[VOL. LXXXI1I.

organizations of bankers.
The New Y ork Association,
which was the first to act on the suggestion of Alfred H . Cur­
tis for the appointm ent of delegates representing the various
associations to confer on the question, has, through its Secre­
tary, E . O. Eldredge, issued the following circular letter:
New York City, July 20th, 1906.
The New York State Bankers’ Association at its recent convention
took up with a great deal of earnestness the matter of currency reform.
The idea advanced by President Curtis of the New York State Bankers’
Association in an address delivered before the Massachusetts Bankers’
Association on the 20th of June last, that the State Associations could
accomplish a great deal in this way, has found general acceptance.
The following resolution was adopted by the New York State Bankers’
Association at last week’s convention:
“ Resolved, That this convention of the New York State Bankers’
Association recommends that each State Bankers’ Association be re­
quested to appoint a delegate who shall, with other delegates similarly
appointed, confer with the Special Committee of the New York Chamber
of Commerce and the Legislative Committee of the American Bankers’
Association to discuss the question of improving the currency laws.”
It has been thought desirable that each separate State Association
should be advised of our action and requested to conform to the plan,
that is, to appoint a delegate who shall act with others similarly appointed
in the connection suggested in the above resolution.
If your State has already held its annual convention, as most of the
States have, will you not bring the matter before your Executive Com­
mittee for action.
A convenient time for the meeting of this body would doubtless be
just prior to the gathering of the American Bankers’ Association at St.
Louis. In the meantime, some organization ought to be perfected that
there may be definite plan and purpose.
Copies of the foregoing were forwarded to the Secretary
of every State Association, and the replies received, Mr.
Eldredge states, show general interest, a number of dele­
gates having already been nam ed.

ITEMS ABOUT BANKS, BANKERS AND TRUST CO’S— Only one lot of 50 shares of

bank stock

was sold at

— The Im porters’ & Traders’ National Bank of this city,
through its board of directors, has adopted resolutions of
regret on the death of Russell Sage.
Mr. Sage, who died
on Sunday last in his ninetieth year, had been a m ember of

auction this week, while the sales at the Stock Exchange
am ount to 60 shares.
There have been no public transac­
tions in trust com pany stocks.
the ban k ’s board since 1864 and Vice-President since 1868.
Shares. BANKS— New York.
Low. High. Close.
Last previous sale.
Similar resolutions of sym pathy were adopted on the 26th
x60 Commerce, Nat. Bank o f. 180 180R 180M
July 1906— 180
inst. b y the directors of the Fifth Avenue Bank of New
50 Metropolitan Bank______ 160 160
160
April 1906— 188
Y o rk , of which Mr. Sage was one of the founders.
x Sold at the Stock Exchange.
— The proposition to increase the capital of the Lincoln
— Two New Y o rk Stock Exchange memberships were
Trust Com pany of this city from $ 5 0 0 ,0 0 0 to $ 1 ,0 0 0 ,0 0 0 was
transferred this week, the latest for $ 8 0 ,0 0 0 and the other,
ratified at yesterday’s special meeting of the stockholders.
earlier in the week, for $ 7 8 ,0 0 0 .
The last previous sale was
The plan of issuance, namely,' 9 5 % of the new stock to go
reported a t $81.,000.
to shareholders at $ 1 1 0 , and the remaining 5 % (at $350 or
— A notice has been sent b y the Comptroller of the Cur­
more) to members of the advisory com m ittee interested in
rency to the banking institutions of the District of Colum bia, the com pany’s branches, was also approved b y the stock­
other than national, calling attention to the A c t, approved holders.
b y Congress on June 26 1906, which places under the Com p­
— The first edition of 300 copies of the book of Printed
troller all “ savings and trust companies and other banking
institutions organized under any State law and having an Forms issued b y the Savings Bank Section of the American
office or banking house located within the District of Colum ­
bia, for the receipt of deposits or sa vin gs.”
A certified copy

Bankers’ Association having been disposed of, Secretary
Hanhart is now receiving orders for a second edition, which

of the certificate of incorporation of all such institutions is
requested in the notice b y the Comptroller.

will be ready this week.
The work, referred to in this de­
partm ent June 9, is gotten up in attractive and durable
shape.
Such a collection of printed forms should be useful
not alone to savings banks but likewise to banks of discount

— A t a special meeting of the Milwaukee Clearing-House
Association on the 20th inst, a resolution was offered for an
am endm ent to the by-law s, increasing the am ount of capital
necessary for a bank desiring admission to m em bership,
from $ 1 0 0 ,0 0 0 to $ 2 0 0 ,0 0 0 .
A t a subsequent m eeting on
the 24th inst. the Association deferred action on the m atter,
and m oved th at it be re-referred to the Clearing-House Com ­
m ittee, to report at a meeting to be called b y the Chairman.
The contem plated action, following the announcement of a
project to establish a new State bank.w ith $ 1 0 0 ,0 0 0 capital,
gave rise to the report th at it was intended to shut out
from membership the prospective .institution.
I f the am end­
m ent passed, the bank would not only (with its $ 1 0 0 ,0 0 0
capital) be barred from m em bership, but it would be further
handicapped b y the rules of the association, which prohibit
a member from accepting checks of non-m em bers.
The Mil­
waukee “ W isconsin” publishes a statem ent made b y a bank
official, refuting the idea that in amending the by-law s it
was the desire to shut out any proposed bank.
I t is the
belief of the members of the association, he states, “ that
any bank of the future in Milwaukee should open with at
least a capital of $ 2 0 0 ,0 0 0 .
That is the sum required b y the
Government for a national bank before it can receive a
charter in a city with not less than 2 0 0 ,0 0 0 population, and
it is felt th at the same rule ought to govern in the case of a
State bank.
In the event of a panic the members of the
Clearing-House Association are expected to help any bank
tem porarily in trouble, and this duty alone suggests the
desirability of a strong b a n k .”
— The subject of currency reform is evidently^ to be pressed
with considerable vigor by the different State and national

and trust companies operating savings departm ents.
The
price is $12 per copy to members of the Am erican Bankers’
Association.
— A t a meeting of the directors of the United States M ort­
gage & Trust Companjr of this city on Thursday, W illiam A .
Jamison, of A rbuckle B ro s., was elected to the board.
— -The Fourteenth Street Bank of this city has declared
a quarterly dividend of 2 j ^ % per annum , payable A u g. 1.
Two per cent had previously been the quarterly distribution
since August 1905.
Prior to this only 6 % per annum was
paid.
— -The quarterly dividend of the Astor National Bank of
this city, to be paid A u g. 1, was made 6 xi % , or at the rate
/
of 2 5 % per annum .
The bank has paid 2 0 % yearty since
and including 1902.
— The State Banking Departm ent on the 26th inst. author­
ized the Hudson Trust Com pany of Miis city (a conversion of
the United National Bank) to begin business.
The ban k’s
stockholders, as stated last week, approved on the 19th inst.
the liquidation of its affairs and the proposed change to a
trust com pany.
The latter will have a capital of $ 1 ,0 0 0 ,0 0 0 .
— Clarence S. W eller has been elected Assistant Manager
of the Van Norden Trust C om pany’s E ast Side Branch, at
320 Grand Street, of which M ax Market is the Manager. Mr.
Weller has had considerable experience in credit work,
having been connected with the credit department of the
M erchants’ National Bank and for the past year and a half
has been the dredit m an of the Van Norden Trust C om p an y .

July 28 1000..

THE CHRONICLE.

— It is announced that the proposed Commercial Trust
Company of this city, which is to locate in the vicinity of
42nd Street, is to have a capital of $500,000 and a surplus
of half that amount.
— The American Institute of Bank Clerks will hold its
annual session on September 6, 7 and S at Atlantic City.
The speakers thus far announced are Leslie M . Shaw, Secre­
tary of the Treasury; Alexander Gilbert, President of the
Market A Fulton National Bank of New York; E . D . IIulbert, Vice-President of the Merchants’ Loan & Trust Com­
pany of Chicago; Joseph French Johnson, Dean of New York
University School of Commerce, Accounts and Finance, and
Dr. Edward Sherwood Meade, director Evening School of
Accounts and Finance, University of Pennsylvania.
The
program also contains a debate between the Pittsburgh and
Detroit chapters on the following subject: "R eso lv e d , That
for Congress to Establish a National Reserve Bank would be
for the best interests of this country.”
— Receiver Schlesinger has been successful in the proceed­
ings to hold the stockholders of the Federal Bank of this city
liable for the full amount of the bank’s capital, and judg­
ments have accordingly been entered against the various
shareholders. The institution has been closed since April
1904; it had a capital of $250,000.
— It was announced this week that a new bank was being
organized in the City of Mexico under the auspices of Speyer
& Co. of this city and the Deutsche Bank of Berlin.
The
bank, which is to be known as the Mexican Bank of Com­
merce A Industry, will take over the Banco Aleman Trans­
atlantic©, until now the Mexican agency of the Deutsche
Bank. It is to have a capital of $ 1 0 ,0 0 0 ,0 0 0 , Mexican cur­
rency, the equivalent of $ 5 ,000,000 American gold, which
will be contributed bj' American, German and Mexican in­
terests. and is organized under a concession granted by the
Federal Government.
The Banco Nacional , the Govern­
ment Bank of Mexico, is one of the most prominent Mexican
shareholders of the new bank, and will be represented on
the board by its Vice-President, Pablo Macedo. The other
Mexican directors will be: Guillermo Landay Escandon,
E . X . Brown, President of the National R R . Co. of Mexico;
Hugo Scherer Jr. of H . Scherer Jr. & Co.; Ernesto Otto of
Sommer, Herrmann & Co.; Rodolph Stoecker of Gustav
Struck A Co.; Franz Boker of Roberto Boker & Co.; Oscar
Braniff, J. B. Body of S. Pearson & Son, L td ., and Martin
G. Ribon, all representatives of prominent American, Mexi­
can and European financial and commercial houses in Mexico.
The directors in New York are: James Speyer, head of
Speyer A Co.; Henry Clay Pierce, Chairman of the board of
directors of the Mexican Central R y . and largely interested
in the commercial and industrial development of Mexico,
and Jacob Langeloth, President of the American Metal Co.,
which has very considerable mining interests in Mexico. In
addition to these directors, there will be three resident di­
rectors in Berlin.
--T h e directors of the Mechanics’ Bank of Brooklyn
Borough have elected Charles G. Balmanno to the cashiership to succeed Charles E . Wheeler, whose resignation was
referred to last week. Mr. Balmanno also retains the post
of Wee-President, to which he was elected in April 1905.
W . J. Bennett and Harry M. DeMott have been chosen
Assistant Cashiers to fill two newly created offices.
— Plans are being perfected for the organization of a new
8 ' ate bank in Brooklyn Borough under the name of the
Memorial Arch Bank.
The capital will be $100 ,000 and it
is the purpose to locate the institution at Seventh Avenue
and Union Street.
Harold A . Davidson, Secretary of the
Home Trust Company of Brooklyn, has, it is stated, been
offered the presidency of the bank.

19 I

Clement W . Bailey, Joseph H . Bernardi, Henry S. De Forest,
Louis Faust, William F. Hanrahan, John F. Horman,
Henry Horstmeyer, Dayton L . Kathan, Albert J. Levi,
Olin S. Luffman, W illiam Dewey Loucks, John McDermott,
James B. M cKain, John N. Parker, Alvin J. Quackenbush,
N . I. Schermerhorn, Martin P. Swart, Charles F. Veeder
and Abram G. Veeder.
A general trust and banking business
will be conducted.
— Arrangements have been completed for the transfer of
the control of the Washington Trust Company of Boston
(capital $500,000) to the Beacon Trust Company of that city.
The Washington Trust, which started less than two years
ago (on Oct. 1 1904) is to liquidate, its business to be con­
tinued by the Beacon Trust. The liquidation, together with
the amount paid for the com pany’s good will, is expected to
yield to the stockholders of the Washington Trust (accord­
ing to the “ Boston Transcript” ) about $165 per share. The
Beacon Trust is itself controlled by the City Trust.
— Comptroller Ridgely has declared a dividend of 2 0 % in
favor of the depositors and other creditors of the Enterprise
National Bank of Allegheny, Pa. This is the first payment
to the depositors since the bank’s failure in October last.
The State of Pennsylvania, which had deposited with the
bank at the time of its suspension the sum of $ 1 ,0 3 0 ,0 0 0 ,
was repaid the full amount, with interest, by the surety
companies which had given bonds for the deposit. These
companies will assume among the depositors the place held
by the State as a depositor— that is, they will get back their
pro rata share of 'whatever the assets of the institution may
yield for the depositors as a whole.
— An application to organize in Cincinnati a new Federal
bank, under the name of the American National, was ap­
proved on the 21st inst. The capital of the proposed insti­
tution will be $500 ,000 .
J. M. Blair, who was President of
the Equitable National Bank of Cincinnati prior to its con­
solidation with the Merchants’ National in January 1905,
is said to be interested in the movement.
— I t is reported that the Dime Savings Bank of Detroit,
M ich., which contemplates an increase in its capital, may at
the same time change its name to the Industrial Savings
B an k.
— According to a recent issue of the Chicago “ Inter Ocean,”
the Railwr
ay Exchange Bank of that city is not, as was sup­
posed, a reorganization of the Jackson Trust A Savings
Bank.
The Railway Exchange Bank, it states, is an entirely
new organization; there was no transfer of stock, and the
shareholders of the Jackson Trust are to be reimbursed in
dividends payable out of the proceeds of the latter institu­
tion’s liquidation now in process. The new bank merely
assumed the payment of depositors of the retiring bank and
took up the task of liquidating its assets.
— The stockholders of the Austin State Bank of Chicago
have voted to increase the capital from $25,000 to $50,000,
through the declaration of a stock dividend of 1 0 0 % .
The
surplus, after the transfer of $25,000 to capital, stands at
$20,000, and the bank has undivided profits of $5,000.
— The new Merchants’ A Manufacturers’ Bank of Milwau­
kee commenced business on Monday. The institution has
a capital of $100,000 and has as officers L . M. Alexander,
President; W . S. Paddock, Vice-President; M. A . Graettinger, Cashier; and Frank X . Bodden, Assistant Cashier.
The bank’s quarters are in the Plankinton Building.
— Charles H . Martin has been elected President of the
People’s Savings Bank of Des Moines, Iow a, succeeding the
late Martin Flynn. Thomas F. Flynn, son of the late
President, has been elected to replace Mr. Martin as ^ icePresident.
F. P. Flynn continues as Cashier and E . A .
Slininger as Assistant Cashier.

— The Citizens’ Trust Co. of Schenectady, X . Y . , which
— John L. Carey, who, it is understood, has disposed of h.s
in December last received authority to do business, will open
stockholdings in the Mechanics’ Savings Bank of Des Moines,
its doors about September 1. It has a capital of $150,000
Iowa, has retired as Vice-President and director of the
and a surplus of $60,000, paid in in cash.
The company
institution.
was originally styled the Security Trust, but permission was
— Ferdinand A . H all, Cashier of the Grand Rapids Sav­
obtained to change the name as above. The officers are
M illiam G. Schermerhorn, President; James W . Ydverton ings Bank of Grand Rapids, M ich., died on the 19th inst.
and George \V. Featherstonhaugh, Vice-Presidents, and j Mr. Hall was born in Rochester, N . Y . , sixty years ago.
M illiam G. Schaible, Secretary and Treasurer. The board I He had been Cashier of the Grand Rapids bank for twentyof directors includes, in addition to the foregoing, John Allen, one years.

THE CHRONICLE.

192

— Thejdirectorsjof thc|Union|Stock Yards National Bank
of South|Omaha,8Ncb., have^elected as a Vice-President E .
F . Folda,|who|had been Cashier of the bank since January
last.
Mr. Folda is” succecded in the last-named position
by F. R . Hedrick, for the past eighteen months President of
the Stock Yards National Bank of Fort W orth.
— The Merchants’ Bank of Augusta, G a ., has increased
its capital from $50,000 to $75,000.
The issuance of the
additional stock (par $100) was authorized by the shareholders^onf June 26.
The shares were disposed of at $200
each, and the subscriptions had to be fully paid by the 10th
inst.
The premium of $25,000 has been applied to surplus,
making it $ 5 0 ,000, and the bank has in addition undivided
profits of $44,000.
Quotations for the stock, we are ad­
vised, are now $200 bid and $205 asked. Maurice W alton
is President; William J. Hollingsworth, Vice-President, and
Albert S. H atch, Cashier.
— The Fourth National Bank of Macon, G a ., whose appli­
cation to organize was approved by the Comptroller last
m onth, completed its organization with the election of offi­
cers on the 23rd inst.
W . M. Lewis has been chosen Presi­
dent; Charles B . Lewis, Cashier, and Francis E . William s,
Assistant Cashier. The bank has a capital of $250 ,000 , and
is to open on September 1.
• The capital of the Western National Bank of Fort W orth,
—
Texas, was increased on the 11th inst from $300,000 to
$400,000. The new stock was sold at $115 per share of
$100, and the premium placed to surplus account. The
latter is now $60,000.
W . H . Eddleman is President of the
bank.

[VOL. LXXXIII.

In France the depression due to the internal condition of
Russia is aggravated by fear of the proposed income tax.
The French Government desires to induce other European
governments to enter into a convention with it for the pur­
pose of preventing the citizens of the contracting States
from evading paying taxes.
Whether the other governments
will be willing to enter into such a convention remains to be
seen. It is said that applications have already been made
to the British Government and to the Swiss. It is claimed
that the Swiss law affords French people facilities for evading
the tax, but that the Swiss Government is unwilling to
change the law, inasmuch as the French evasion is profitable
to Switzerland. In this country there is a strong disinclina­
tion both on the part of the Government and of the public
for the Government to interfere in such matters.
There is
of course, at the same tim e, an earnest desire to meet
the wishes of the French Government as far as pos­
sible. Therefore it is
not
known
how
the
over­
tures of the French Goverment jfwill be
met.
But
the knowledge in Frence
that
the French Govern­
ment is so desirous of preventing evasion in creases
the fear that the tax will be both vexatious and in­
quisitorial, and therefore leads to a disinclination to employ
money in France.
Partly owing to the fear of the income
tax and partly to the fear of Socialism, as well as to the dis­
content of the Clerical P arty, the withdrawals of deposits
from the French savings banks have been on a considerable
scale. During the first six months of the present year, for
example, there has been a decrease in the deposits compared
with the corresponding period of last year of over three
millions sterling.

In Germany business is also very slack. In the last week
of June there was the usual extraordinary demand for ac­
commodation, and in consequence the note circulation of
the Imperial Bank of Germany rose above the legal m axi­
mum £ 1 4 ,1 0 3 ,6 0 0 .
Since then notes have been rapidly re­
turning from circulation.
But it is doubted whether the
$ 100,000.
statement which will be issued to-day will show that the re­
— The dividend rate of the Merchants’ Bank of Canada
duction is sufficient to bring the circulation within the lim it,
(head office Montreal) has been increased from 7 % to 8 %
and thus to relieve the Bank of the necessity of paying duty
per annum. Payments will hereafter be made quar­
upon the excess. In Italy business is very active, and it has
terly.
received a fresh impetus from the great success attending
— The Imperial Bank of Canada has issued in attractive the
conversion.
Everybody knew
beforehand
that
pamphlet form the detailed proceedings of th# annual gen­ the conversion would be successful, inasmuch as prac­
eral meeting of its shareholders, held on May 23, together tically all the debt is now held at home, and Italian
with its thirty-first annual report as of date April 30.
A public opinion was strongly in favor of the conver­
reference to this statement will be found in these columns sion.
But the actual success has exceeded all expecta­
in our issue of May 26.
A list of the bank’s shareholders is tions. Here at home the depression has been intensi­
also given in the booklet.
fied this week by the rumors of an impending native
— The National Discount C o., Limited, London, has insurrection in the Transvaal. I t is said that native
issued its semi-annual statement for the half-year ending servants have warned their mistresses to seek shelter in safe
June 30.
The balance sheet shows deposits of $58,144,941 places as a rising would take place. The warning having been
and bills re-discounted of $15,408,983 .
The gross assets given, it is hoped the precautions taken will prevent the up­
aggregate $ 8 0 ,374,698 .
The gross profits for the half-year rising .
were $593,393.
The usual six months dividend at the rate
The Board of Trade returns for June are again exceedingly
of 1 0 % per annum was declared.
satisfactory. The value of the imports for the month was
— On July 10, by unanimous vote of the stockholders, the
capital of the San Antonio National Bank of San Antonio,
Texas, was increased from $125,000 to $500,000.
The stock­
holders have already subscribed and paid for their pro rata
share of increased stock.
The bank has a surplus of

flXoiietavv;! CcmmerciaX^nglisIx^jeurs
(From.our own correspondent.)
L o n d o n , S a tu r d a y, J u l y 14 1906.

The bourses and stock exchanges are as depressed as ever,
and no improvement can be looked for so long as internal
conditions in Russia remain so critical. There is unques­
tionably a better feeling. There has during the past week
been a slight recovery in London in consols, and both in
London and in Paris in Russian securities. There has also
been a cessation of the forced selling which has been going
on for so many weeks and has excited so much apprehension.
It is now understood that a solicitor, recently deceased, had
entered into an immense speculation, to carry on which he
applied moneys entrusted to him by his clients. I t is said
that the account left open by him was on an enormous scale,
and indeed it would seem to have been so from the length of
time during which the liquidation went on. The liquidation
is now believed to be ended and some recovery is looked for,
but not unless affairs in Russia improve.

£ 4 7 ,8 9 2 ,7 0 9 , an increase over the corresponding month of
last year of £ 4 ,3 3 5 ,3 0 2 , or 9 .9 % .
For the six months the
value reached £ 3 0 0 ,5 7 3 ,3 3 5 , an increase over the corre­
sponding period of last year of £ 2 7 ,4 4 1 ,8 1 9 , or 1 0 % .
The
value of the exports of British and Irish produce and manu­
factures for the month amounted to £ 3 0 ,6 3 9 ,1 8 7 , an in­
crease over June of last year of £ 4 ,6 5 3 ,7 9 0 , or as much as
18% .
For the six months the value was £ 1 8 0 ,5 9 3 ,5 1 6 , an
increase over the six months of last year of £ 2 4 ,8 8 7 ,2 9 5 ,
or 1 5 .9 % .
The value of the re-exports of foreign and colonial
produce for June was £ 7 ,2 5 2 ,0 2 9 , an increase over June of
last year of £ 8 5 2 ,8 6 5 , or 1 3 .3 % .
For the six months the
total value was £ 4 4 ,4 1 8 ,8 8 2 , an increase of £ 4 ,3 6 4 ,5 8 9 '
or 1 0 .9 % .
The India Council offered for tender on Wednesday 40 lacs
of drafts, and the applications amounted to 353 lacs, at prices
ranging from Is. 3 31-32d. to Is. 4 l-3 2 d . per rupee.
Ap­
plicants for bills at Is. 4d. and for telegraphic transfers at
Is. 4 l-3 2 d . per rupee were allotted about 1 1 % of the
amounts applied for.
The following return shows the position of the Bank of
England, the Bank rate of discount, the price of consols, & c.,
compared with the last four years:

Ju

ly

1902.
July^ lb.

1903.
July 15.

1905.
i
1904.
July 12}
July 13.

1900.
11.

J u ly
£

£

J
L

Circulation.............. 30.069.415 30,209.650 28.741.005 29.625.505 29,701.905
6,724.140
0,914,657 11.400.017
9,071.414
Public deposits----- 7,165,592
Other deposits........ 45.902.150 44.449.130 41.143.779 41.449.922 39.660,772
c'.overnm t securtiies 15.977.133 10.752.444 10.903.700 15.342.840 10.980.400
7
29,408.443 2S.992.334 25.150,891 25,988.711 26, i 80,0 >
Other securities
R eserve.no tes&coin. 25.746,550 20.383,935 23.857.204 25.148.480 26.102.050
Coiner bull..both dep. 37,365,965 38.203.585 34.148.809 36,596,985 38.088.955
Prop. reserve to lia­
48%
51%
49 13-16
50 *i:
48 %
bilities_____ p. c.
3
3
3
2%
3%
Bank rate........p. c.
92 15-10
95 15-16
89%
90 3-10
$7 15-16
Consols, 2% P- c . . 24% d.
24 7-10d.
26 11-16(1.
27 3-160
30% d .
* liver
8
Ciear-house returns"227,S25,000 225.059.000 17S.221.000 211.456.000 221.751.000

The rates for money have been as follows:
July 13.
3%
Bank of England rate----------Oven Market rales—
Bank bills— 3 months___
3
— 4 months___
3 3-16
3H
— 6 months___
Trade bills— 3 months___
3%
— 4 months___ 3% @ 3%
uteres tallowed for deposits—
By joint-stocK banks_____
2
By discount houses:
At c a ll____ ___________
2
7 to 14 d a y s............... - 2%

June 22.
3%

June 29.
3%

July 6.
3%

3© 3 1-16 3 3-16(5)3
l-10(o)3l s 3 3-16(a)3K
3% ® 3% 3 3-16@3%
3%
3%
3% @ 3%
3% @ 3%
2%

3 3-16 @ 3%
3%
3%
3%
3% @ 3%

2%
2 ',

2%

2 12

The Bank rates of discount and open market rates at the
chief Continental cities have been as follows:
July 14.
Bank
Oven
Rate. Market.
P a ris............ ........... .. 3
B erlin ............ ........... 4%
Hamburg___________ 4%
R a tes o f
I n te r e s t at—

F ra n k fort — _________

Amsterdam ________
Brussels ....................
V ie n n a ____ _______
St. Petersburg_______
Madrid ...................
Copenhagen________

4f|

4%
3%
4
6%
4%
5

3%
3%
3%
nom.
4
4%

July
Bank
Open
Rate. Market.
2%
3
3%
3%
ft
4% 3 7-16
3%
4%
3%
3%
4
3 11-16
nom.
6%
4%
4
5
4%

June 30.
June 23.
Open Bank
Oven
Mdrket. Rate. Market.
3
2%
3%
4%
4%
3%
3%
11-16 4%
4%
4%
4
i
3%
3%
3%
4
3%
4
nom
nom.
6%
6%
4
4
412
5
4%
4%

ig

Messrs. Pixley & Abell write as follows under date of
July 12:
GOLD.— The Bank of England has been able to again secure the largest portion
of this week’s arrivals, about £300.000. America is still sending no buying orders.
The Bank has received £717.000 in bars, £53.000 in sovereigns, from Australia,
and £6.000 from Paris, while £12.000 has been withdrawn for South America.
Next week £500.000 is due to arrive from South Africa. Arrivals— South Africa.
£353.000: Australia. £153.000; West Indies, £10,000: Straits, £2.000; Suez.
£1.000: totals. £519.000. Shipments— Bombay, £84.000; Chittagong, £1.000:
Singapore. £1.000; total. £S6,000.
SILVER.— Silver is now quoted 30% d.. a rise of 5-16d. on the week. There
has been a better demand for India, and also some special orders, which have
more than sufficed to absorb the American offerings. Market closes firm. The
price in India. Rs. 76% . Arrivals— New York, £440.000: Mexico, £4.000: total.
£444.000. Sh pments— Madras, £5.000; Port Said. £1,500; Bombay, £166,500:
total. £173.000.
MEXICAN DOLLARS.— There have been some transactions in dollars at about
13-10d. under the price of silver. Arrivals— New York, £17,000. Shipments—•
Hong Kong. £116.500.

The quotations for bullion are reported as follows:
GOLD.
July 12.
London Standard.
s.
d.
Bar gold, fine, oz......... 77 9%
U. S. gold, oz_________ 76 4%
German gold coin. o z .. 76 4%
French gold coin, oz__ 76 4%
Japanese yen. oz_____ 76 4%

July 5. I
SILVER.
July 12. July 5.
s. d.
London Standard.
d.
d.
77 9% Bar silver, fine, oz
30%
29 13-16
76 4% ! “ 2 mo. delivery, oz_29 15-16 29%
32 3-16
76 4V2 Cake silver, oz_______32%
76 4% i Mexican dollars______nom.
nom.
76 4% !

The following shows the imports of cereal produce into
the United Kingdom during the season to date compared
with previous seasons:
IMPORTS.
Forty-five weeks—
1905-06.
1904-05.
Imports of wheat, cw t_______ ___ 79,358,790 88.400.100
Barley - .......... ........
. _ ___ 18.869.900
19.516,300
Oats_______ _ _ _ _
_ _ ___ 13,200,700
_
14.152,400
Peas........................................ .. ___ 1.462.375
1.894,648
Beans
_______ . .
___
549,000
1.362,490
Indian corn_____________
___ 39,770.900 35.265,000
Flour ............ ....... - ________ ------12,778,570
9,731,620
S u p p lie s

a v a ila b le

193

TH E CHRONICLE.

2S 1900.]

fo r

c o n s u m p t io n

1903-04.
79.582,336
28,444.926
13,200,894
2.065.770
1,936,078
41.092,867
17.410.143

(e x c lu s iv e

1902-03.
70,968.747
23,222.134
13,123,208
1.692.511
1,349.545
34.913,678
16,845,298
of

sto ck

o n S e p t e m b e r 1 ):
190.5-06.
Wheat Imported, cw t_______ ___ 79,358,790
Imports of flour_________
___ 12.778.570
Sales of home-grown________ ___ 27,454.097

1904-05.
88.400.100
9.731,620
13.450.51S

1903-04.
79,582,336
17,410,143
16.422,409

1902-03.
70.998,747
16,845.298
22,206.103

T ota l________ __________ ---119,592,457 111,582.238 113.414,888 110.050,148
Average price wheat, week__
30s. 2d.
32s. Id.
26s. 6d.
28s. Id
Average price, season_______
28s. Sd.
30s. 7d.
27s. 2d.
26s. Od.

The following shows the quantities of wheat, flour and
maize afloat to the United Kingdom:
This week.
W heat_______ _____ .............. _qrs. 2.780.000
Flour, equal to ____ ------------- qrs.
165.000

Last iceek.
3.075.000
185.000
990.000

1904-05.
2,835.000
110,000
925,000

1903-04.
3.220.000
165.000
980,000

The British imports since Jan. 1 have been as follows:
1906.
£
53.475.830
47.528,835
47.054.231
51.430.457
47.892,709

1905.
£
4 7.766,460
42.844.937
48.983.312
43.282,826
46.832.967
43,557,407

SLx months______ ...................... 300.573.335

273,131,516

Imports.
January __________ ......................
February........ .........____________
March ___________
April ____________ ____ _______
M a y ........ .
------------------June____________ ......................

Difference.
Per Cl.
£
+ 5,709.370 + 12.0
+ 4,683.898 + 10.9
+ 8.8
+ 4.287,275
+ 3,771.405
+ 8.7
+ 9.8
+ 4,597,490
+4,335,302
+ 9.9
+27.441,819

+ 10.0

The exports since Jan. 1 have been as follows:

Re-exports.
January................ - ............. .........
February ........................................
March .............................. ...............
.1une

1900.

1905.
Difference.
£
£
«•! Per Ct.
6,113.887 • -M .331.968 4-21.8
7.019.723 • 4-370.137
4-4.8
0,812,209 • 4-464.188
4-0.9
6,303,877
4-1.028.209 4-10.3
6,805,433
4-311.222
4-4.5
6,399,164
4-852,865 4-13.3

£

7.445,855
7.995,860
7.276,397
7,332.086
7,116,655
7.252.029

Six months.................................. 44,418,882
40,054,293
4-4,304,689 4-10.9
Note.— The aggregate figures are official. They Indicate that slight adjustments
have been made in the monthly returns as issued.

English Financial Markets— Per Cable.
The daily closing quotations for securities, &c. , at London
as reported by cable have been as follows the past week:
London.
Week ending July 27.
Sat.
Silver, p e r o z .---------------- d . 30 5-10
Consuls, new. 2% percents. 87 3-16
For account___ ____ . 87 %
French Rentes (In. Par.)_fr 96.00
b Anaconda Mining Co----- - 12%
Atchison Topeka A Santa Fe 91 %
Preferred ___
_______ .103
Baltimore & Ohio.... ........... .121%
Preferred . . _ --------- . 96
Canadian Pacific----- ------- .164%
Chesapeake & Ohio. - __ __ . 58
Chicago Great Western___ - 17%
Chicago Milw. & St. Paul - . .183
Denver & Rio Grande, com. - 42%
Preferred __ __ . 87
Erie, common____________ - 42%
First preferred------- _ _- 79%
Second preferred_______ . 71
Illinois Central - - - - - - ____ .183%
Louisvlle & Nashville_____ -148%
Mexican Central
_ ____ . 21
Missouri Kans. & Tex., com . 34
Preferred - _ . _ _ _____ . 69
National RR. of Mexico___ . 40
N. A'. Cent. & Hud. River- _ .137
N. Y. Ontario < W estern._ - 49%
fc
Norfolk & Western, com — - 89%
Preferred _______ ____ . 94
Northern Pacific__ _______ -207
a Pennsylvania____ ______ _ 65%
a Reading Co - _________ _ 63%
a First preferred_______ . 47
a Second preferred______ . 48
Rock Island C o __________ - 24%
Southern Pacific--------------- - 72%
Southern R y., com________ - 35%
Preferred _ _ __ ______ .101
Union Pacific, common___ .150%
Preferred _____________ . 97
V. S. Steel Corp., common. - 36%
Preferred _____________ -105%
W a b a s h _ ______________ . 20
_
Preferred __ _______
. 46%
Debenture B ’s_____ __ _ - 81%
a Price per share.

b £ sterling,

Mon.
30 5-16
87 1-10
87%
96.05
12%
91
102%
120%
95
163%
57%
17%
183
42
87
41%
79%
71
182%
147
20%
33%
68%
40
136%
48%
89
94
206
65%
64%
47%
48%
24%
73%
35%
101%
151%
96%
36%
105%
20
47
82

Tues.
30%
87%
87%
90.00
12%
91%
103
120%
96
165%
57%
17%
184%
42%
87
42%
79%
71%
183%
147%
21
33%
69
40
137
49%
90%
94
208
65%
64%
47%
48%
24%
73%
35%
101
151%
96%
36%
106%
19%
47
S2%

Wed.
30%
87 1-16
87 1-16
96.75
12%
91%
103
121%
90
107%
57%
17%
184%
41%
87
42%
79%
71
183%
147ET
20%
34%
69%
40%
137
49%
89%
94
65%
64%
46
45
74%
36
102
152%
97%
36%
106%
20
46%
81%

Thurs. Fri.
30 1-16 30 1-16
87 7-16 87 11-16
87 7-10 87 11-16
90.97% 96.95
12%
12%
93%
94%
103
103
121%
122% •
96
96
169
168%
58%
59%
18
17%
187%
186%
44
44%
87
87%
43%
43%
80
80%
71%
71%
184% cl81%
149
146%
21
21
35
35
70%
70%
40%
40%
139
139
48
48%
91
91%
94
94
209
210%
66%
66%
66%
65%
47%
47%
48%
48%
25
25%
75
74%
37
30%
102
102
154
154%
97
97
39 %
38%
107%
109
19%
20%
47%
47%
82%
82

c Ex-dividend.

GSomraerctal and IpTscclIaixcotts H em s
D IV ID E N D S.
The following dividends have been announced this week:
Name of Company.

Per
Cent.

Railroads (Steam).
Alabama Great Southern, pref. “ A ” ___
3
Buffalo Rochester & Pitts., com. & pref_
3
Chicago Milw. & St. Paul. com. & pref__
3%
Cleve.. Cin.. Chic. & St. Louis, common.
2
Oswego & Syracuse, guar____________
4%
Utica Clinton & Bingham ton_________
2
Street Railways.
East St. Louis & Suburban, pref. (quar.)
1%
Ohio Traction (Cincinnati), pref. (quar.)
1%
Philadelphia Company, pref- - ____
2%
Twin City R . T., Min neap., com. (quar.)
1%
West Penn. Rys.. Pittsb., pref. (quar.)_
1%
Banks.
Astor National (quar.)_____________
6%
Corn Exchange _ _ _ _ _ ___________
7
Fourteenth Street (quar.)_______ _ __
2%
2
New York Nat. Excb. (quar.) (No. 109)Trust Companies.
Farmers’ Loan & Trust (quar.)__
10
Hamilton (Brooklyn), (quar.)_________
2%
Kings County (Brooklyn) (quar.)______
3
Miscellaneous.
American Caramel, common (quar.)___
1%
______ ______
Extra _ _
%
American Shipbuilding, common (quar.)
1
Common extra
______
______
2
Preferred (quar.) _
________
1%
Amer.Smelt.Sec...pref.“ B” (quar.) (No. 5)
1%
Butte Electric A Power, pref. (quar.)__
1%
Casein Co., pref. (quar.) (No. 2 5 )______
2
Cleveland & Sandusky Brew., com. (qu.)
1
Preferred (quar.)___
_ __ ______
1%
Diamond Match (quar.)______________
2%
General Chemical, common ____
2
Jefferson A Clearfield Coal A Iron, pref
2%
Lord A' Taylor, common (quar.)_ __ _
_
1%
Municipal Gas, Albany. N. Y. (quar.). 2%
National Carbon, pref. (quar.)_________
1%
New England Telep. A Teleg. (quar.)__
1%
Pittsburgh Brewing, common (quar.)
iV
\
Preferred (quar.)_. ____ ________
1%
Pocahontas Collieries, pref. (quar.)_ __
1%
Pressed Steel Car, pref. (quar.) (No. 30.)
1%
Procter A Gamble, common (quar.)___
3
Syracuse Lighting, pref. (quar.)____ _ 1%
U. S. Bobbin A Shuttle, com. (quar.) — SI 00
Preferred (ouar.)____ ____ _____ ____ SI 75
Washington (D. C.) Gas Light (quar.).2%

When
Payable.

Books Closed.
Days Inclusive.

Aug. 30 Aug. 9
to
Aug.
Aug. 15 Holders of rcc. Aug.
Oct. 16 Holders of rec. Aug.
Sept.
1 Holders of rec. July
Aug. 20 Aug. 11 to
Aug.
Aug.
Aug.
9 July 17 to

30
6
29
31
19
8

Aug.
Aug.
Sept.
Aug.
Aug.

July
July
Aug.
July
Aug.

14
31
10
31
1

to
to
to

Aug.
Aug.
Aug.

1
1
1

to

Aug.

1

to

July 31

1 Holders of rec.
to
1 July 27
1 Holders of rec.
15 Holders of rec.
to
1 July 27

Aug.
Aug.
Aug.
Aug.

1
1 July 26
1 July 25
1 July 21

Aug.
Aug.
Aug.

1 July 22
1
1 July 26

Aug.
Aug.
Sept.
Sept.
Sept.
Sept.
Aug.
Aug.
Sept.
Sept,
Sept,
Sept,
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.
Aug.

1
1
1
.
1
1
ll Aug. 25
to
1|Holders of rec.
io;IAug. 1
to
to
16 Sept. 6
to
16 Sept. 6
15
to
1
1!Aug. 23
151 Holders of rec.
to
1 July 26
to
1 July 25
4
to
15 Aug.
to
15 Aug. 1
to
20 Aug. 12
20 Aug. 12
to
to
1 July 29
to
29 Aug. 9
15 Holders of rec.
to
1 July 22
to
1 July 21
to
1 Julv 21
to
1 July 15

Sept. 2
July26o
Aug. 9
Sept. 3
Aug. 6
Vug. 1
Aug. 1
Aug. 16
Aug. 14
Aug. 20
Aug. 20
July 31
Aug. 28
Julv3l«
Aug. 1
Aug. 1
Aug. 1
July 31

a Transfer books not closed.

Auction Sales.— Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction:
By Messrs. Adrian H. Muller & Son:

Stocks.
Stocks.
100 Plttsb. Bess. & Lake
50 Merchants'Refrig.
Erie RR. Co.. S50
Co., N. Y ............ .200-201
........ ............. 28,781.123
each ______$33% per sh.
50 Metropolitan Bank _160
...................... 31,651,162
277 U . S. Graphotype pf. 18500
5.250 Internalional Con-]
............ .......... 27.032.306
1,108 U . S. Gra ph. com. _. /
...................... 31.729.927
denser Co. com 1
50 The L. Martin Co.,
3.250 Tnt. Cond. Co. Pf.
Jersey City. .$32% per sh
note }S10,000
Six months______ ____________ 180,593.516
155.706,221 + 24,887.295 + 15.9 880,000 Promissory
Bonds.
of Int. Cond. Co J
$1,000 Ferd. Munch Brewery
to order of G . E. I
The re-exports of foreign and colonial produce since Jan. 1
6s 1911..................................80
Highle.v, dated I
July 9 1904...........J
show the following contrast:

Exports.
January ................
February................
March ............ ..
A p r i l ...... ...............
M a y ................
June ............

1906.
£

1905.
£
24,989,777
25.269.063
28,070,823
24.138,468
27,252.693
25.985.397

Difference.
Per Ct.
£
+ 5,785.034 + 23.2
+ 3,512.060 + 13.9
+3,580,339 + 12.8
+ 2,893.838 + 12.0
+ 4.477,234 + 16.5
+4,653,790 + 18.0

194

[YoL L XXXIII,
u

THE CHRONICLE-

Statementj[ofjj;New^York City Clearing House Banks.—
New York City, Boston and Philadelphia Banks.— Below is
The following statement shows the condition of the New a summary of the weekly returns of the Clearing House banks
York City Clearing House banks for the week ending of New York City, Boston and Philadelphia. The New York
figures do not include results for non-member banks.
July 21.
It should be distinctly understood that as
We omit two ciphers (00; in all these figures.
to all items except capital and surplus the figures are the
Capital
am!
Specie. Legals. Deposits, a Circu­ Clearings.
Loans.
averages of the daily results, not the totals at the Banks.
Surplus.
lation.
end of the week. In other words, in reporting loans and
New York
S
S
$
$
$
$
S
deposits and holdings of specie and legal tenders, the J une 23 - - 266,709,1 1057,758,3 188,883,8 84,397,2 1049,472,3 48,471,1 1,766,633,7
June 30-. 267,581,1 1056,944,9 187,184,5 87,275,5 1049,617,0 48,362,4 1,812,510,0
July 7-practice is to take the aggregate of the amounts for the July 14_- 267,581,1 1050,578,1 181,281,0 84,270.0 1036,343,7 48,435,6 1,872,420,2
267,581,1 1036,233,4 182,941,3 85,872,5 1023,932,0 48,556,5 1,674,316.4
several days of the week and divide this aggregate by the July 21_ - 267,581.1 1045,668,7 193,066,3 87,509,5 1044,739,2 47,903,4 1,620,418,2
Boston.
■ ■
June 30_ _ 42,936,0 182,502,0 17,486,0 5,444,0 207,548,0 7,522,0 138,331,1
number of days.
We omit two ciphers (00) in all cases.
Capital.

Banks.
00s omitted.
Bank of N. Y_ _
Manhattan Co_
Merchants’ _. - Mechanics’ ___
A m erica______
P h e n ix _______
City ______ __
Chemical ___
Merchants' Exc.
Gallatin------- _
Butch.&Drove.
Mech. &Traders’
Greenw ich___
Amer. Exch—
Commerce____
M ercantile___
Pacific _______
Chatham______
People’s ______
North America.
Hanover______
Irv in g _______
Citizens’ Cent’ L
Nassau
_ - _Market < Fult’n
fe
Metropoltan __
Corn Exchange.
O riental__
Imp. & Traders’
P a r k _________
East R iv e r ___
Fourth ____
Second _ _
F ir s t _________
N. Y. Nat. Ex_
Bowery
N. Y. County- _
German-Amer _
Chase____
Fifth Avenue __
German Exch- Germania __
Lincoln __
G arfield__ __
F ifth _________
M etropolis___
West S ide____
Seaboard______
IstNat., Bklyn.
Liberty ___ __
N. Y. Prod. Ex.
New Amsterd’m
Astor ________

Surp us.

S
S
2,000,0
2,877,3
2,050,0
2,699,0
1,504,6
2,000,0
3,465,0
3,000,0
1,500,0
4,072,3
1,000,0
328,4
25,000,0 19,400,3
7,748,5
300,0
439,2
600,0
2,307,0
1,000,0
300,0
156.1
390,4
700,0
500,0
604,2
4,548,3
5,000,0
25,000,0 13,008,4
3,000,0
4,628,4
676.4
422,7
1,030,0
450,0
H 200,0
453,1
2,041,2
2,000,0
7,622,4
3,000,0
1,000,0
1.133,9
2,550,0
789.5
500,0
335,2
1,000,0
1,458,9
2,000,0
662,1
2,000,0
3,578,3
750,0
154,4
7,008,9
1,500,0
3,000,0
764,8
119,0
250.0
,063,4
3,000,0
300.0
.673,1
10,000,0 17,277,1
900.1
1,000,0
250,0
776.2
842,2
200,0
750,0
577.3
I 000.0
,731,6
.789,5
100,0
778.2
200.0
£ 200,0
904,7
300,0
.565,8
1.344,9
1,000,0
250,0
457,6
1,000,0
,684,6
200,0
811.6
1,000,0
170,6
• 300,0
680,3
1,000,0
161,8
1,000.0
533,4
1,000,0
239,1
350,0
639,8

Loans.

Specie.

L gals. Deposits, a Ro­
se ve

%
$
S
$
S
16,206,0 26.0
2,602,0 1,717,0
17,890,0
25.0
25,630,0
4,028,0 2,403,0
22,910,0
14,299,7 26.1
2,720,9 1,023,8
11,615,0
19,716,0 28.1
3,683,0 1,875,0
19,632,0
25,268,9 24.9
3,746,6 2,546,1
23,504,8
5,819,0 27.4
188,0
1,409,0
6,579,0
55,021,2 35,630,7 10,472,1 150,252,6 30,6
23,715,6 29.4
24,185,0
4,972,0 2,017,9
6,701,2 26.5
1,474,8
6,116,8
301,1
636,6
5,720,0 25.2
8,071,3
809,7
2,711,7 21.1
88,3
485,8
2,563,8
6,861,0 25.0
733,0
983,0
6,239,0
6,025,0 26.5
744,6
5,279.4
853,3
19,455,8 26.0
3.355,5 1,716,3
26,986,9
16,816,7 25.4
138.511,4 14,268,8 15,488,1
13,491,6 26.9
3,608,2 1,355,2
21,627,2
3,824.4 20.1
348,2
421,1
3,515,3
5,755,1 25.7
570,9
5.743,0
908,1
601.2
2,681.6 25.7
89,5
2,233,7
2,610,6
14,451.8 26.6
,242,6
14,888,6
59,343,4 28.1
9,392,0 7,343,3
49,596,5
7,691,0 24.8
7,931,0
383,8
1,529,0
18,228.1 25.7
18,354,2
3,076,8 1,613,7
435,2
3,853,1 21.8
407,8
3,510,3
6,837,6 29.6
683.4
1,346.0
6,890.5
10,012,7 26.6
313,4
2,350,3
9,653,7
,573,0 25.4
,470,0
35,599,0
6,636,0
9,444,3 21.6
482,4
9,624.6
1,563,6
21,064,0 25.8
3,947,0 1,498,0
23,890,0
79,307,0 26.3
7,156,0 3,728,0
69,129,0
1,359.8 27.9
136,8
1,169,5
243,1
20.648,4 26.4
2,847,4
18,327,5
,623,3
10,379,0 25.1
812,0 1,795,0
10,303,0
75,794,0 29.1
86,658,4 19,656,6
,410,7
9,154,3 26.1
2,032,4
363,1
9,252,5
4,106.0 20.9
557,0
305,0
3.619,0
5.902,0 24.8
4.849,2
489.3
978,8
185.7
3,773,3 23.5
704,0
3,958,3
55,660,3 25.1
,698.9
41,263,1 12,314,4
533,9
11,356,1 25.8
2,405,1
9,846,5
4,138,0 25.2
836.0
210,0
3,213,6
5,420.1 22.9
741,5
4,502,2
501,5
1,485,2 2,077,5
3.606,0 26.1
12,541/5
7.949,9 25.0
268,3
7,706.0
1.716,1
2,977.6 25.0
2,945,0
584.5
161.1
9,803,4 20.9
665,0
10,263,3
1,391,8
4,740.0 25.8
tl 836,0
389.0
4,319,0
16,347.0 27.9
13,974,0
2,806,0 1.766,0
840,0
5,322,0 31.1
4,628,0
820,0
664.2
8,012.3 24.5
10,248,4
1,304.0
7.250,7 26.5
6,189.1
385,7
1,469,7
562.2
6,690,1 19.9
5,824.4
769,7
966,0
4,591,0 25.0
4.775,0
181,0

T otals______ 117,972,7 149,60S,4 1045,668,7 193,066,3 87,509.5 1044,739,2 26.8
a
a United States deposits included,$11,974,300.

July 7 -.
July 14..
July 21_.
Phila.
June 30-_
July 7-.
July 14-.
July 2 1 ..

42,936,0
42,936,0
42,936,0

183,377,0
183,456,0
181,424,0

49,860,0
49,860,0
49,860,0
49,860,0

218,929,0
218,356,0
218,346,0
218,193,0

We omit two ciphers (00) in all cases.

Capital

N. Y. City.
Boroughs of
Man.&Br x.
S
%
160,5
100,0
Wash. H’g’ ts
200,0
Century ___
141,1
90,0
Chelsea Exch
100.0
355,5
Colonial __ _ 100.0
300,0
419,6
Columbia _
Consol. Nat_ 1,000,0 ,101,5
140.0
200,0
F id elity ___
500,0
144.1
14th Street-164,5
Hamilton __
200,0
580,4
Jefferson - _
500,0
250,0
172.7
Mt- Morris
296,2
Mutual _ _ _
200,0
230,7
200.0
19th W ard.294.1
Plaza _. —
100.0
107,3
100.0
Riverside _ _
100,0 1,324,5
State - —
173,0
12th Ward__
200,0
149,9
100,0
23d Ward__
703.1
750,0
Union Exch_
198.4
United N at- 1,000,0
100,0 353,5
Y'orkville —
513,7
500,0
Coal & I. Nat
208,6
34th Street- _ 200.0
110,2
200,0
Batt. Pk.Nat

Loam
Investmerits

254,231,0
251,401,0
254,727,0
253,810,0

Imports and Exports for the W eek . — The following are
the imports at New York for the week ending for dry goods
July 19 and for the week ending for general merchandise
July 20; also totals since beginning first week in January.
FOREIGN IMPORTS AT NEW YORK.
For week.

1906.

Dry goods
General merchandise_______

1904.

1905.

1903.

$2,468,358
7,924.851

82,326,186
8,294,769

$2,455,689
8,220,422

$11,982,727 $10,393,209

810,620,955

$10,676,111

8,920,310

T o ta l___________________
Since January 1.
Dry goods___
General m erchandise._ __
_

$89,895,116 $77,863,424 $67,367,859 $75,888,254
330,381,689 315,321.311 265,089,261 261,993,528

Total 29 weeks_ _______ S420,276,805 $393,184,735 $332,457,120 $337,881,782
_

The imports of dry goods for one week later will be found
in our report of the dry goods trade.
?.*:
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 23 and from Jan. 1 to date:
EXPORTS FROM NEW Y O RK FOR THE W EEK.
1906.
For the week______________
Previously reported________
Total 29 weeks. _ _

1905.

1904.

1903.

$10,940,386
SS,S29,914
$8,902,725
$9,462,134
337,686,867 286,942,759 260,785,640 274,712.404

___ S348,627,253 $295,772,673 8269,718,365 $284,174,538

Note.—As the figures of exports as reported by the New York Custom House
from week to week frequently show divergence from the monthly totals, also com­
piled by the Custom House, we shall from time to time adjust the totals by adding
to or deducting from the amount "previously reported."

The following table shows the exports and imports of
specie at the port of New York for the week ending July 21
and since Jan. 1 19C 3, and for the corresponding periods in
K
1905 and 1904:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.

following is the
statement of condition of the non-member banks for the
week ending July 21 1906, based on average of daily
results:

Sur­
plus.

61,189,0
58,856,0 •
59,610,0 •
i -61,022,0 •

154,236,0
158,867,8
158,159,9

14,006,0 154,364,7
14,042,0 143,311,4
14,047,0 144,591,8
14,047,0 ..148,987,0
|
a Including for Boston and Philadelphia the item “ due to other banks" and also
Government deposits. For Boston these Government deposits amounted on July 21
to §2,024,000; on July 14 to $2,590,000, on July 7 to $2,598,000.

Reports of Non-Member Banks.— The

Banks.
00s omitted.

16,354,0 5,064,0 213,335,0 7,529,0
16,193,0 6,002,0 212,744.0 7,587,0
16,418,0 6,494,0 211,383,0 7,670,0

Legal
Tender
Specie. and
Bank
Notes.

Deposit with
Clear­
ing
Agent.

Net
Other Deposits.
Banks
cS
ec.

‘S
872.7
1,262,1
787,2
3,656,6
6,754,0
5.075,0
984,9
5,504,5
4.784,5
4.545,4
3.049,2
3,913,8
3,169,5
3,635,0
1,652,7
2,695,0
2,500,0
1,801,2
7,484,6
1,612,4
3,387.7
4,032.0
1.227,2
641,9

$
15,5
35,9
48.7
102,7
292,0
675,8
16,6
199,8
248,3
10,2
179.4
23.1
25,2
203,0
18.2
808,0
39,0
65,2
373.8
262,9
40.0
616.0
308,6
106,7

$
38,6
53,9
36.2
315,8
264,0
52,5
58,9
353,5
203,1
265.1
82.3
253,0
30.5.1
192,0
132.4
403.0
236.0
149,7
191,8
54,7
275,5
249,0
14.6
7,7

S
S
%
129,2
771,0
69,4
1.198.1
41,6
80,4
211,8 1.124,7
759,8
296,4 4.876,2
532.0
3,8 7,212,0
374,9
26.0 3,780,5
999,2
85,4 345.6
37.0 6,299,0
246,4
235.0 5,365.9
121,4
159.1 4.230.1
251.1
57.4 3,473.6
200,5
58,3 3,890.2
628,8
3.747.6
1S5.0
3.844.0
79,7
212,1 1,930,1
1.144,0
609.0 14 847.0
192,0
2,0 2,950.0
126,4
124,3 2,151,3
200,5
600.0 7,373.3
102.5
497,8 1.313.2
155,8
55,5 3.791.0
667,0
75.0 4.045,7
147,7
56,6 1.329,5
60,0
459,9

Borough of
B 'ooklyn.
199,9 2,609,9
P 0,0
C
Bor High
287,2 3,023,5
1’ 0,0
Broadwav
175,8 1.875 3
.V 0,0
Brooklyn _
676.7 4,720.3
252.0
Mfrs’ Nat__
907,7 10.424,4
Mechanics’ _ i.ono.o
874,7 6,627.0
Nassau — _ 770.0
(32,9 3,327 0
300.0
N it. City___
196,9 1.591 0
100.0
North Side__
U n io n ------- 1,000,0 1,039.5 10,675 0

28.7
11.2
W2,l
461,4
220.0
2ao.O
137.0
26,9
358,0

220,0
200.2
81.1
144.7
774.0
484,0
422,0
110.0
718,0

173,1
210,1
209,8
72.S
367.2
34.0
663,2
293,8
1,317,1
ISO.6
1.024.0
504,0
177,0
46.0 294,1
1,619,0 1,392,0
1,584,3
136,0
354,5

653,0
77.7
24,2

5,631.5
2,427,4
2,046,5

162,6
71,3

186,6
94,0

2,656,4
1,588,3

Jersey City.
First NatH "d. Co. Nat
Third Nat_
_

400.0 1,153.1
687,0
250,0
324,2
200,0

4,610 1
2.860 2
1,817 3

165,1
86,6
55,1

320,4
77.0
98,4

Hoboken.
First Nat —
Second Nat ~

110,0
125,0

571,9
186,3

2,719.9
1.497,4

161,2
43,8

21,5
44,4

2,992,0
3.164,6
2.238,7
5.252,4
12.598.5
6,354,0
4,044,0
1,803,2
13,168,0

Total July 21 12337,0 16076,9 143407,4 6,871,7 7,904.1 15,117,6 7,048,6 150968,6
Total .Tulv 14 12227,0 16076,9 14523X7 7,044.9 8,472,9 14,723,5 6,995.5 159079,8
Total July 7 12337,0 16076,9 145407.3 6:493,S 7,8S9,9 16,317,8 7,282.3 160059,8
n-■
■*
y

Exports.

Gold.

Week.

Imports.

Since Jan. 1

Week.

Since Jan. 1

Great Britain_ __
_
France _________________ _
_
Germany
__ ____ __ _ _ _
West I n d ie s .______
Mexico - _ ____
South America _ _ _ _ _ _
_
All other countries
__
_
_
_

8633,978
1,056,0-16
4,045,000
34,350

$58,398 $25,196,588
9.103,114
9,209,084
50,000
1,282.570
7.014
162,978
17.972
1,049,905
927
156,505

Total 1906_______. _____________
Total 1905._ _ _ ______
Total 1904_____________________

$5,769,374
2,845 37.681.947
14,840 64,469,906

$134,311 $46,160,744
143.632
6,223,513
16,575
6,360,987

Silver.
Great Britain _ _ _ _ _ _ _ _ _ _ _
France _
_ _ _ _ _
Germany _______ . ______
West i n d i e s .___ __ _ _
___
Mexico
________ ____
South America___ _______
_____
All other countries______ _ ______

$996,947 $30,170,716
721.000
13,760
94,640
100.000

$310
3.903
10
91,957
512.037
727,500
46.417

Total 1906_____________________
Total 1905____________________
Total 1904_____________________

$996,947 $31,106,316
598,352 18.128,936
917,765 23,966.962

S44.299
24.955
1.967

6.200

$71,221' SI,382,134
224,231
2,044.961
5,464i
4S9.945

Of the above imports for the week in 1908, $50,714 were
American gold coin and $18 American silver coin.
Of the
exports during the same time $ ____were American gold
coin and $ _ _ were American silver coin.
_
Auction Sales.— See preceding page.

%mi h fn $ nittl WAitimc\;tl.
TRANSCONTINENTAL MAP

Mailed upon request

Spencer Trask &
Investment Bankers.

Co

Branch Office, Albany, N.Y. W illiam and Pine Sts., New York.
M

o

f

f

a

t

&

W

h

i

t

e

.

^ e m b e r s N e w York S to c k K x ch a n se,
6 NASSAU STREET.

H A N O V E R BANK BUriMMNQ,

j&ealers In Bnveftlment i ^ u r i t i e s .
C O M M IS S IO N

ORDERS

EXECUTED

FOR

CASH

O N A iY .

THE CHRONICLE.

J uly 28 1900. J

ILauI; crs' ©;x cttc.
2

For Dividends see page 193 .
W a l l S t r e e t , F r i d a y N i g h t , J u l y 27 1906.

The M o n ey M a rk et and Financial S itu a tio n .— N o tw ith ­
standing the com plex character of Russian affairs, the v o l­
ume of business at the Stock E xch an ge has c o n s id e r a t e
increased and there has been a further advance in prices.
The latter is due, no d o u b t, to the prom ising condition
of dom estic affairs in every departm ent of a ctiv ity .
I t is
now practically certain the country is to be favored w ith
unusually large harvests of all the im portan t crops, and
railway m anagers are already planning for an increased
traffic m o v em en t.
The present condition and outlook for
the iron and steel industry is such th at there has been aggres­
sive bu yin g of the U nited States Steel shares at advancing
prices.
M oreover, the m on ey m arket is easier and seems to be
in a more settled condition than for a considerable time past.
S a tu rd a y ’s bank statem en t show ed a su bstan tially increased
surplus reserve, although this m a y have been largely due to
special Treasury operations.
It is to be n oted , how ever, th a t the bond m arket is ex ­
trem ely dull.
Transactions in this departm en t of the E x ­
change are abou t the sm allest in recent years and the bids
for an issue o f New Y ork C ity bonds this week show th at
investors who usually b u y th at class of securities are not
eager to increase their holdings.
Perhaps an explanation of
the m atter m a y be found in the enlarged needs for com m er­
cial and industrial purposes in all parts of the country; and
also in the fact that savings banks are more largely interested
in other classes o f securities than form erly.
The open market rates for call loans on the Stock E x ­
change during the week on stock and bond collaterals have
ranged from 2 to 2 % % .
T o -d a y ’s rates on call were
2 @ '2 % % . Prim e com m ercial paper quoted at 5 % @ 5 % %
for endorsem ents and 5 % @ 5 % % for best single nam es.
The B ank of E n gland w eekly sta tem en t on T h u rsd ay
show ed a decrease in bullion of £ 1 4 2 ,2 6 8 and the percentage
of reserve to liabilities was 4 8 .1 2 , against 4 9 .1 7 last week.
The discount rate rem ains unchanged at 3 % % .
The B an k
of France show s an increase of 1 ,3 5 0 ,0 0 0 francs in gold and
a decrease o f 1 ,2 5 0 ,0 0 0 francs in silver.
NEW

Y O RK

C IT Y

C L E A R IX G -H O U S E

Differences
Jrom
previous week.

1906.

J u ly 2 1 .
S
1 1 7 .9 7 2 .7 0 0
C a p it a l. _
______
1 4 9 ,6 0 8 .4 0 0
S u r p l u s ___ ________________
L o a n s a n d d i s c o u n t s ___ 1 , 0 4 5 , 6 6 8 . 7 0 0
C i r c u l a t i o n _____ . .
4 7 ,9 0 3 .4 0 0
N e t d e p o s i t s . _ ............
O 1 0 4 4 7 3 9 ,2 0 0
S p e c i e ____________________
1 9 3 ,0 6 6 ,3 0 0
8 7 ,5 0 9 .5 0 0
L e g a l t e n d e r s __________

S
In c.
9 ,4 3 5 ,3 0 0
D ec.
6 5 3 ,1 0 0
I n c . 2 0 ,8 0 7 ,2 0 0
I n c . 1 0 .1 2 5 .0 0 0
In c.
1 ,6 3 7 ,0 0 0

BAN KS.

1905.

1904.

J u ly 2 2 .

J u ly 2 3 .

S
S
1 1 5 ,9 7 2 .7 0 0
1 1 5 ,9 7 2 ,7 0 0
1 3 4 .3 2 3 .4 0 0
1 3 9 ,4 9 2 ,8 0 0
1 ,1 2 6 .3 6 6 ,7 0 0 1 .0 9 9 .8 4 9 .2 0 0
4 8 ,9 1 3 ,2 0 0
3 9 ,1 3 2 ,6 0 0
1 ,1 7 7 ,3 9 8 ,2 0 0 1 .2 0 1 .4 4 3 .2 0 0
2 6 5 .9 5 5 .4 0 0
2 2 0 .1 9 0 .5 0 0
8 9 ,1 0 9 ,0 0 0
8 5 ,0 1 5 ,0 0 0

R e s e r v e h e l d ____________
2 5 % o f d e p o s its - - - .

2 8 0 .5 7 5 .8 0 0 I n c .
2 6 1 .1 8 4 . 8 0 0 I n c .

1 1 .7 6 2 ,0 0 0
5 ,2 0 1 ,8 0 0

3 0 9 .2 9 9 .5 0 0
2 9 4 .3 4 9 ,5 5 0

3 5 0 .9 7 0 .4 0 0
3 0 0 ,3 6 0 ,8 0 0

_____

1 9 .3 9 1 ,0 0 0 I n c .

6 ,5 6 0 ^ 2 0 0

1 4 ,9 4 9 ,9 5 0

5 0 ,6 0 9 ,6 0 0

S u r p lu s r e s e r v e

n s i 1 ,9 7 4 . 3 0 0 U n i t e d S t a t e s d e p o s i t s i n c l u d e d , a g a i n s t S 1 3 . 7 0 4 . S 0 0 la s t w e e k
a n d $ 8 , 5 2 6 , 5 0 0 t h e c o r r e s p o n d i n g w e e k o f 1 90 5..
W ith th ese U n ite d S ta te s d e p o s its
e l i m i n a t e d , t h e s u r p l u s r e s e r v e w o u l d b e S 2 2 .3 S 4 .5 7 5 o n J u l y 2 1 a n d S 1 G . 2 5 7 . 0 0 0 o n
J u ly 14.
S o le .— R e t u r n s o f s e p a r a t e b a n k s a p p e a r o n t h e p r e c e d i n g p a g e .

Foreign E x c h a n g e .— The m arket w as altern ately strong
and w eak, influenced b y the E uropean situ a tio n , closing
with a easy ton e.
G old arrivals from L o n d on , $ 9 0 9 ,0 0 0 .
T o -d a y ’s (F rid a y ’s) nom inal rates for sterling exchange
were 4 8 2 % @ 4 83 for s ix ty da r an d 4 85% @ 4 86 for sight.
%
T o -d a y ’s (F rid a y ’s) actual rates for sterling exchange were
4 8210(a;4 822 5 for long, 4 8 4 8 5 @ 4 8 4 9 5 for short and 4 8520
@ 4 8530 for cables.
Com mercial on banks 4 8 1 7 5 @ 4 8185
and docum ents for paym en t 4 8 1 @ 4 82% .
Cotton for
p aym en t 4 81 @ 4 81% , cotton for acceptance 4 8 1 7 5 @ 4 818 5
and grain for p a ym en t 4 82% @ 4 8 2 % .
T o -d a y 's (F rid a y ’s) actual rates for Paris ban kers’ francs
were 5 20-%a(g>5 20% for long and 5 1 8 % h @ 5 1 8 %a for
sh ort.
G erm an y bankers’ m arks were 9 4 ) 4 @ 9 4 5 -1 6 for
long and 94% d@,94% for short.
A m sterd a m bankers’
guilders were 40 l-15k@ 40% a for short.
E xchange at Paris on London to -d a y , 2 5 f. 1 - 5 . ; w eek’s
ran ge, 25f. 15% c. high and 25f. 15c. low .
The w eek’s range for exchange rates follow s:

3

---------------Long-------Sterling. Actual—
H i g h .............. . 4 8 2 2 0

@ 4

8225

Low .............4 8190
@ 4 82
P a ris Bankers' F rancs—
High ______ 5 2054
@ 5 20a
Low . . . . 5 20? •n
(" 5 2o-' S
Grr tiang Bankers’ M arks
B ig
14
@ 94 5 L o w ________ 94 3 - 1 6
(it 94 %

------------------ Short------------------------------------- Cables----------

14 8520
14 8475

@ 4 S525
@ 4 8480

4 8500
.4 85

@ 4 8565
@ 4 8510

15 18 % a
IS IS% /i

@ 5 18%
@ 5 18% a

I
[

-----------------------------...................................

' 94 12-16
! 94% d

@
@

94%
9454

i
I

...................................
------------ -----------------

! 40 1-16*
i 40

@
@

40%<z
I - .......... .................40 1-16 | ................... - .............

Amsterdam Bankers' Gutldtrs-

Hlgh................. ..............
L o w ________
L o s -:
P lw c

_________ _____________

'1 - 1 6 o f 1 % .

k 1 -1 6 o f 1 % .

d 1 -3 2 o f
x 1 -3 2 o f 1 % .

h 3 - 3 2 Of 1 % .
y 3 -3 2 o f 1 % .

The following were the rates for dom estic exchange on
New York at the underm entioned cities to -d a y : Savannah
b u y in g, 50c. per $ 1 ,0 0 0 discount; selling, 75c. p r $ 1 ,0 0 0
prem ium .
Charleston, 10c. per $ 1 ,0 0 0 prem ium .
New
Orleans ban k , 10c. per $ 1 ,0 0 0 discount; com m ercial, 40c.
per $ 1 ,0 0 0 discount.
Chicago, 5c. per $ 1 ,0 0 0 prem ium .
S t.
Louis, 10c. per $ 1 ,0 0 0 prem ium .
(San Francisco, 30c. per
$ 1 ,0 0 0 prem ium .

195

State and Railroad B o n d s.— Sales of State bonds at the
Board include $.2,000 North Carolina con. 4s at 101 and
$ 2 ,0 0 0 Tennessee settlement, 3s at 95% .
There is little to be said of a bond m arket in which the
transactions average only abou t $ 1 ,2 5 0 ,0 0 0 , par v a lu e, per
day except th a t it is dull and narrow.
It is interesting to
n ote, how ever, that, prices have generally been well sus­
tained.
Of a list of 20 of the m ost active issues, 13 are higher,
4 are lower and 3 unchanged.
The strong features have been Am erican T obaccos, B rook­
lyn R apid Transit ref. con v. 4s, M exican Central 2d incom es
and W a b a sh debentures, which are a point or more higher
than last w eek.
U nited States Steel 5s have been one of
the m ost active issues and are higher in sy m p a th y with the
shares.
A ll declines from last w eek’s prices are represented
b y m inor fractions and therefore are un im portan t.
U n ited States B o n d s .— Sales of G overn m ent bonds at the
Board are lim ited to $50 0 3 s , co u p ., 1 9 0 8 -1 8 , at 1 0 3 and
$ 1 0 ,0 0 0 2s, r e g ., 19 3 0 , at 104.
The follow ing are the daily
closing qu otation s; f o r y e a r l y r a n g e s e e th ird p a g e fo llo w in g .
Interest
Periods
2s,
2s.
3s,
3s,
3s.
4s,
4s,
4s,
4s,

1 9 3 0 ______ _____r e g i s t e r e d
cou pon
1 9 3 0 ________ ___
r e g iste r e d
1 9 0 8 -1 9 1 8 - —
1 9 0 8 - 1 9 1 8 - ________ c o u p o n
1 9 0 8 -1 9 1 8 - .s m a ll c o u p o n
re g iste r e d
1907 - - - - - . .
1 9 0 7 ________ ............ . c o u p o n
1 9 2 5 ______ _____ r e g i s t e r e d
1 9 2 5 ________ ________ c o u p o n

Q—
Q—
Q—
Q—
Q—
Q—
Q—
Q—
Q—

Jan
Jan
F eb
Feb
F eb
Jan
Jan
Feb
F eb

J u ly

J u ly

J u ly

Ju y

Ju ly

21

23

24

25

26

Ju ly
27

1 04
*103%
*102%
*103
*102%
*103
*103
*128%
*129%

*103%
* 103%
*102%
*103
*102%
*103
*103
*128%
*129%

*104
*104
*102%
*103
*102%
*103
*103
*128%
*129%

*104
*104
*103
*103%
*102%
*103
*103
*129%
*130%

*104
*104
*103
*103%
*102%
*103
*103
*128%
*129%

*104
*104
*103
*103%
*102%
*103
*103
*129
*130

* T h i s is t h e p r i c e b i d a t t h e m o r n i n g b o a r d ; n o sale w a s m a d e .

R ailroad and M iscellan eou s S to c k s .— In the stock m arket
there has been further recovery from the late depression
and the transactions have been on a larger scale th an for
several weeks pa st.
The recovery noted am ounts to from
1 to 5 poin ts, averaging abou t 3 points for the active list.
The upward m ovem en t has been b y no m eans a stead y one,
how ever, the m arket having been decidedly weak on M on ­
day on the unfavorable outlook in R ussia and the depression
of Russian securities abroad.
A m o n g the exceptional features have been Canadian P a ­
cific, which advanced nearly 5 poin ts on its increased earn­
ings and excellent prospects; S t. P aul, Northern Pacific,
Great N orthern, Union Pacific and R eadin g, which are an
average of abou t 4 points higher.
A tch ison has been strong
on crop prospects, and Southern Pacific advanced in s y m ­
p a th y w ith U nion Pacific shares.
Miscellaneous and in d u stria l issues have m ade a record
sim ilar to th at of the railw ay list.
Sugar Refining has been
continuously stron g, and although a point below the highest
show s a net gain of 5% points.
A n acon da Mining has covered a range of 8 % p o in ts, clos­
ing at the highest.
The United States Steel issues have
been heavily dealt in and are abou t 4 points higher than last
w eek.
F o r d a il y v o lu m e o f b u s in e s s s e e p a g e 2 03.
T h e follow ing sales h ave occurred this week of shares not
represented in our detailed list on the pages which follow :

STOCKS.

Week, ending J u ly 2 7 .

Sales
lor
Week.

Range for week.
Lowest.

B e th le h e m S teel
C a n P a c s u b s c r ip tio n s . _
H o m e s t a k e M in in g
K n ic k e r b o c k e r I c e . p r e f.
N Y & N J T e l e p h o n e ___
R i g h t s _______________ _
S t Joseph & G r Is! 2d p f .
V u lc a n D e tin n in g , p r e f . .

J u ly
1 ,0 0 0 2 2
J u ly
2 0 0 159
100 8 2 % J u ly
100 7 6 % J u ly
J u ly
1 0 0 130
2 % J u ly
1 ,7 2 0
J u ly
200 35
J u ly
100 59

Highest.
23 2 2 % J u l y
25 1 6 0
J u ly
21 8 2 % J u l y
24 7 6 % J u l y
27 1 3 0
J u ly
23
2 % J u ly
25 35
J u ly
25 59
J u ly

Range since Ja n . 1.
Lowest.
20 22
J u ly
25 15354 J u ly
'
21
80%
Jan
24
75
J u ly
2 7 ; 125
J u ly
27
2 % June
25 30
M ch l
25
50
Jan

'

\ Highest.

2554 June
July

16 0

83%

SO
15554
2 54
40
07

Apr

Jan
F eb

July
Jan
Apr

Outside M a r k e t .— A stronger tone on the closing days and
an active m o v em en t in several of the industrials have been
the main features in the outside m arket this w eek.
V alues
have held steady with an upw ard tendency the rule through­
o u t the list.
A m erican Tobacco m ade a sensational advance
of 15 points to 390 b u t fell back to 3 85.
M ackay Com panies
com m on m oved up a point to 7 2 , and a further ris? to-d a y
carried the price to 74 .
The preferred sold betw een 7 1 %
and 72% .
Am erican Can preferred has m ade substantial
im provem en t, rising from 5 2 % to 55 .
Am erican Chicle
com m on sold up from 180% to 181%, a new high record.
H avan a Tobacco com m on on unusually large transactions
ran up from 1 8 % to 2 1 % , ending the week at the high
figure.
The preferred was quiet but strong, advancing from
35 to 37 .
International Mercantile Marine rose from 2 5 %
to 25%.
Am erican W ritin g Paper preferred dropped from
23 to 21, b u t advanced finally to 24.
Chicago Subw ay fell
from 4 5 % to 44 , recovering the loss in a rise to -1 5 % .
Mining
shares were dull m ost of the week.
B utte Coalition was a
feature in the copper grou p, and, after advancing from :i I )•«
to 31% , dropped to 29% .
It m oved upward again to 3 0 ) 4 ,
ending the week at 30% .
Greene Consolidated Copper was
fairly active and sold down from 2 1 % to 20, tin n up to 2 0 % ,
closing to -d a y at 20% .
U nited Copper common sank from
52% to 91% , and advanced to 92% . B os'o n Cons didated
Copper declined from 25% to 2 4 , and worked back f< 25%.
>
U tah Copper lost 2 points to 25.
N< vaila ('on - h'dated
Copper, after fluctuating betw een 17 and 17 r , sold up
%
to -d a y to 18%.
Outside quotations will be found on page 2 0 3 .

Now York Stock Exchange— Stock Record, Daily, Weekly and Yearly
OCCUPYING
STOCKS—H IG H E S T A N D L O W E S T S A L E ERICKS
Saturday
J u ly 21

M onday
J u ly 23

87% 89%
B836 88%
lO o 100
*99% 100
*136 137% 136 137
117% 117% 116 % 118 %
92
92
*92
93%
74. % 76
73% 76%
*80
88
*80
88
159 % 159% 158% 160
’■'66
69
*67
68
*220 226 *220 224
56% 5 6 h;
65% 56%

Tuesday
J u ly 24

W e dues day
J uly 25

8 83 903
ft
ft
88% 89
99% 100
99% 100
135%135% 136 136%
116%117% 117 117%
*92
93
*92
93%
73% 76
74
75%
*80
88
*80
88
159% 161% 16 L% 164
*67
68
-67
68
222 222 *220 225
55% 56%
$56
56

Thursday
J u ly 26
90% 91%
100 100%
136% 137
117% 118%
*92
93%
74% 76
*80
88
163% 164
*66
68
*222 224
66% 673ft

17% 17 %
17
17
17
17%
17% 17%
16% 17%
*80 % 84
*80% 81
*80% 81
*80% 81
*80% 81
*72% 74
*70
74
*70
74
*70
74
*70
74
26
25 % 25% 25% *25% 26
*25% 26
25% 25%
177% 178% 177 H 18()58 178 1803ft 179% 181% 179% 182%
a
188% 190
* 186 190
189 189
188% 189
189 190
196% 197% 198 198% 197% 197% 195 196% 197 198
*220 230 *220 230 *220 230 *220 230 *222 230
169 169 *168 170 '1 6 8 175 *168 175 *163 175
*176 185
*176 185 *176 185 *176 185
180 180
*13% 14
-1 2
14
*13% 14%
13
12
"12
14
*%....... 29
*26
29
*26
29
28% 2 8 % *26
29
4
4
4%
*4
4%
*4
4 % $4 % 4 % *4
13 % 13 l4 *12
"12
13
*12
13%
13
13
13
*91% 93
92% 93
92% 93
92% 94%
*92% 93
*1 1 0 115 *110 115
'110 115 *113 115 *113 1]5
3 4 1 34%
4
34
34%
34
34%
33% 34%
34
84%
* 68
68 %
63% 70
*69% 70
68%
68
68 3g *68
48 78 4 8 %
49% 49%
48% 49%
49% 49%
49% 49%
213 213
212% 214% 2 1 0 % 212 % 212 % 213% 213% 215%
*485 550 *485 530 *500 550 *500 535
*510 535
41
41
40% 43
41
41%
43
43%
40
40%
85
85
*82% 8584% 85
$84% 84% *82% 84%
*90% 92% *90
92% "90% 92%
91% 91%
91% 92%
*16
17% *16
17% 3 73ft
16% 16%
17
*16% 17%
86
36
*33
38
*34
38
35
35
36
36
4 0 7 41%
8
40% 41%
40% 413^
40% 41%
41
42
' '77 82 77%
77% 78%
77
77%
77
771
a 77% 77%
t>9% 69 ^
70
6 8 % 69% * 6 8 % 69%
63% 69% *69
*68
72
*68
70
*68
70
*68
70
*67
70
*80
90
*80
90
85
87
*80
90
*80
90
291 292
292 292% 293 295
290 295
290 294
_ ____
•-i. __
17
17
17
17
4S
48
*46% 49
*46% 49
48% 48% *46% 49
* ......... 90
89
89
*82% 89%
89% 89% *........ 89%
*120 134 *120 133 *120 133 *120 130
126 126
* 9 4 h 95% *94% 95% *94 38 95% *94% 95%
a
95% 95%
178 178
179 179
179 180
178% 179 *178 179
36% 38%
37
38%
37% 38
37% 38%
36% 37
7 5 ^ 77
76
76 %
76
76%
7-5% 76%
75% 76%
^ 6 % 26 l4
26% 26%
25% 26%
26% 27 ~ $26
26
51% 51
52
52
61)6 C134
51% 52% *51
53
*65
71
*65
72
*67
71
* 6 8 % 71
* 66
67
*79% 80% *79% 80% *79% 80
*79% SO
79% 79%
*33% 26
25
25
24% 25
23% 23% 72 3 1 2534
4
51
51
52
52%
52% 52%
51% 51% *51
52
*29
31
31% 31%
31% 31%
30
30
*29
32
*80
88
*80
86
86
86
*80
88
*80
86
*63
68
*64
70
*68
70
*64
67
*64
70
141 141 ** 14038 141% 139 % 14 L% 13934 141% 141 142%
^147 148
148 148 *148 150
*147 148 *147 148
*103

107 \ * 102 %
*1934 203
4
20%
*180 200 *185
65 % 66
65%.
"*90
95
*90
- l o l 1 5 1 L 152

^.70^ 171
6 2 5s 32%
66% 67
91
yi3g
*135 UO
*39% 39%
*19
20%
____ _

i0 7 % *102%
20%
20
2U0 *185
65%
65%
96
*90
153
151%
*165
171 171
32% 33
32%
67
67
66%
91
92
90%
*136 142 *136
39%
*38
39%
*19
20% *19

133 % 133 %
*66
G7
*114 120
87% 87%
6 192 195
46
46 l4
*87% 87%
*90
02
200 201
132 132
*100 108
'*130 138

Jrridav
July 27

TW O

PAfiES

STOCK*
N E W Y O R K STOCK
EXCHANGE

R a ilro a d * .
A tch. Toneka<feSanta FtTv
Do p re f.................
A tlantic Coast Line H R ..
IJaltimoredb O h io ..........
* * B o pref.......................
Brooklyn Rapid Transit..
Buffalo & Susque, p r e f...
,
/ Canadian P acific............
V 'anada Southern............
Central of N ew J ersey...
Chesapeake < Ohio..........
&
Chicago &. A Iton
■
Do prof
17% 18% Chicago Great W estern ..
*80% 81
Do 4 p. c. debentures
*70
75
Do 5 p. c. pref. “ A ” ..
25% 26%
Do 4 p. c. pref. “ B ” ..
180 181% Chicago M ilw. < St. Paul.
&
191 191
Do p ref.......................
197%198 Chicago & N orth W estern
*N27 230
Do pref. .
*168 173 Chic. St.~P. Minn. & Om.
*176 185
Do pref.......................
*12
13 Chicago^Term’l Transfer.
*26
29
Do pref.......................
4%
4% Chicago T in ion T raction.
*12
13
Do p ref.......................
94
95 Cleve. Cm. Chic. & St, L.
"113 115
Do pref.......................
34% 34% Colorado' & S o u th e rn ___
*69% 70
Do 1st p r e fe r r e d ___
49% 50%
Do 2d preferred.......
214 216% FYelaware & H udson ...
*510 535
a^elaw. Lack. & W est’n.
43
44 Denver & R io Grande___
*85
86
Do p ref.......................
93% 93% Detroit "United...................
*16% 17% Duluth So. Shore & A tl..
*35
38
Do pref.......................
4 1 7 4 2 7 |^rie.._‘ .............................
s
t.
78% 7838 Ah D o 1st p ref.................
69% 70%
Do 2d p ref.................
*68
70 Evansv. < 'Terre H aute..
fc
88
90
Do pret........................
296 296% Great N orthern, pref.......
91% 91%
1003ft1003ft
13/ 141
118% 119%
92
92
76
77%
*80
88
162% 164
*66% 67%
221 224
57% 68

*47

48

O ' avana E le ctric............
pref........................
H ocking V a lle y ...............
Do pref........................
|llm ois Central...............
X nterhoro-M etropolitan
Do pref .
Iow a Central....................
Do pref........................
XTanawha & M ich igan ..
JVc.Ft.S.<fcM .,tr. cts. pfd
Kansas City Southern . . .
Do p ie f .......................
f ake Erie & W e ste rn ...
Xh Do pref........................
L ong Islan d ..
L ouisville & N a sh v ille...
M anhattan E levated ...

88% 88% l l D o

126%
*95
180
37%
77
26%
*61

126%
95%
180
39%
78%
26%
52
*68
71
*80
8L
*24% 25%
53% 54%
32
32
*80
90
*62
70
142% 144
*147%150

107% *102% 107% *102% 107 % * 102 % 107% Metropolitan Street
2 0 '% 2 0 %
20
20%
2 0 % 21 M exican Central...............
20
190 190 *176 195 *180 200 M ichigan Central..............
200
64% 64%
65%
65
65
*63
67 Minneapolis & St. Louis.
*90
95
"90
95
95
*90
92%
Do pref....................
152 153% 152 153
153 153% Minn. S.'P. & S. S. Marie.
153
*168 171
*169 171
171
171 171
Do pref........................
33% 33%
33% 3 3 % Mo. Kansas & T ex a s.......
33%
33% 33%
67% 68%
68% 68%
67%
68
69%
Do pref........................
9 L% 91
92%
92 % 93
923 94% M issouri P acific...............
4
*136 140 * 136 140
140
140 1^0
ash. Chatt. & St. Louis
3938 3938 "39
39%
39
39 T i at.of M ex, non-cum .pt
39%
20 3ft -*........ ‘20% *19
2038 *19
203ft
Do 2d pref

13538 l&6%
l32% 133% 131% 13 3 % 132 133% i ’3 i"^ 135
66
67
66% 67%
66% 67 % 66% 66%
67 % 68
*114 120 *114 120 *114 120 *114 120 "114 120
*86
89
*85
89
*85
88
"86
89
87% 87%
*190 195 *190 197 *190 2 0 L "190 200% *190 197
46
46%
45 % 46 % 45 % 46
46% 46%
46% 47%
87
87 % 87% 8734
88% 88%
87
88%
88% 89%
*90
92% *91
*90
93
*90
93
93
*91
93
199 203
199% 202% 201 202% 202% 203% 204 205%
130 132% 131% 131% *130 132
*130 132
130 130
*100 108 *100 108 *100 108 *100 108 *100 108
*130 138 "130 138 *125 133 *128 134 "128 134
126% 128% 126% 127% 127% 1283ft 128% 129% 129% 130%
39
40
"37% 40
-39
41
"39
40
"37% 39% *88
40
*77
82
*77
82
*77
82
*77
82
*77
82
*77
82
*100 108 *100 108 *103 1U8 *105 108 *105 108 *103 108
123% 125
124 126% 123% 126% 124 % 126 % 126% 127% 127% 128%
92% 92% *90
93 *......... 93 *......... 93
*90
93 * ......... 93
* . ....... 05
*90
95 *......... 95 * ......... 95
*90
95 *.
. 95
23 % 24%
23% 24%
24
24%
23% 24
24% 24%
24% 24%
61% 62%
6138 62%
62
62
62
,63
62
62
62
62%
*63
71
*63
7l% *64
71% *64
71% *64
71% *64
71%
*41% 4 3 % *41 % 4 6 % *41% 46% *41
46% *41% 46% *42% 44
*20% 23
*20% 23
21% k 238 21% 22% *21% 23
3
*20% 23
*50% 51%
50% 513b 50% 52
50
50%
50% 50%
52
53%
70% 71%
70% 72%
70
72
71 % 73%
72% 73%
71% 72%
*117% 118
"117 118 * 116% 117% "117 117% 117% 117%
*117 % 117 %
34^8 35
34% 35%
34
35
34% 34%
35% 35%
35% 36%
*97% 98%
98% 98%
99
99
98% 98%
99
99
99% 99%
*30% 51%
31
31%
31
31%
32% 33%
31% 32%
82% 33%
*1241 128 *124 128 *124 128
125 125 *124 128 *124 128
* 32 % 53 % 33
34
33
"32% 34% *32
*32% 34
$32% 32%
27% 27%
27% 27%
27% 29%
27% 27%
29% 2938 *28
29
46% 4 6 7ft 46% 46%
46% 47
47
47%
47
47 % 47% 47%

N. Y . Central < H udson..
fc
N. Y. Chic. < St. L o u is ...
fc
Do 1 st p ref.......
Do 2d p ref.................
N. Y . N. H aven & H a rtf.
N. Y. Ontario & W estern.
N orfolk & W estern ..........
Do adjustm ent pref.
N orthern P a cific..............
O a cific Coast Co..............
J Do 1st p ref...
L
Do 2d p ref.................
Pennsylvania.....................
Peoria & Eastern..............
Pittsb. Cin. Chic. & St, L.
Do p r e f.____________
J >e a d in g ...........................
L
2d p r e f .........................
R ock Island Company___
Do p re f........................
St. L. <fcs. Fr., 1st p re f---Do 2d p re f.................
St. Louis Southw estern..
Do p ref........................
Southern P acific C o........
Do pref.........................
Southernv.tr. cfs. stmped
Do pref.
do
P ex a s & P a c ific ............
X hird A ven ue (N. Y .) ...
Toledo R ailw ays & Light
Toi. St. L. & W . v. tr. ctfs
Do pref. vot. tr. ctfs.

Range tor } *a/ / 1 u>
Sates 01
f/n basis of lOU-xnare cots
the
Week
Shares
H u/b ext
Lowest

■range >or Erectoui
I ear ( 1\i(J5)
Lmvexi

H»g nest

83,300 8 5 % May 2 96% Jan 13 77% Ma\ 93 ;% Mar
1.126 93% J ’ ly 3 106 Jan 3 00 Jai, ,05% Sep
3,700 1 3 1% J ’ly 3 1 6/% Jan
120 Jan 170 Apr
9 5,' ■ 1 L>5% Muy 2 11934 J’ ne21
0
117 a ug
300 93 J ’ ue27 99% Jan 5 01 “ Mai iOU Aug
222,12b 71 J ’ly 12 9 l uJan 2
5 6 % M a' 0 1 % Nov
•• 83 Jan 1 87 Feb - 81 Dec 01% May
56,3UO 1553ft May 2 i 773 Jau 10 130% Jau 177% Sep
4
. . . . . . 6 » % J ne30 70% .Jan 8 67 So\ 74%" A ug
200 204 May 2 230% May24 1 LO
O Ma> 235 Oct
10,520 53 % Apr 28 6 ' % J ah
45% Mas 6 0 % Mai
25 May 5 38 % ./ aD 15 30 Dec 4 4 m ai
74 May 3 80% Jan 12 75 Oct x*-*3, A di
6,030 16 J ’n e-r 23% Jan .'< 17% Mas 25% Mai
>
80 J ’n el3 86 'v Jau 17 83% Mas 80 8 ep
72% J ’ly 13 80 Jan 31 60 J’ne 78% Sep
2,5 A) 25 J ’ ly 21 39% Jan 22 20 Maj 3 7 % Apr
251,700 155% May 2 193 Jan J 168% Mu 187 % A pi
2,200 177% May 2 106 Jan 2 - 1S2% Jan i92 ^ Apl
4,050 19 2 A pi 27 240 Jan 15 |al90^ J ’ne 249 Jan
230 May 2 2 270 Mar30 U34 Jan 265% l e t
l o o 168 J ’n e .8 108 Jan 15 1150 Jau 225 Jan
100 176 J’ ne 28 202 Jan 15 195 Jan 230 Jan
9% Apr 1-* 18 % Jan lo
200
7% Jan 20 J ’n<
1 0 b 27 A pr 2 7 42% Jan . _ 17% Jan 42 % J iy
310
3% May 21 13%. F e e 20
6 J’ lK 13% Feij
200 11% J ’ly 12 47% Mat i2 30% J ’ly 54 Eel
90% May 2 100% Jan 15 90 Jan i l l
4,600
Mai
110 J ’]y 19 118 Jan 23 1115% J ’ ly 121 % Maj
-9,200 29% Jail 4 37 Jan 24 1 22% Jau 30% Apr
1,601/ 6 6 % A pr 30 73% Feb 20 i 52 May 69% Dec
5,900 43 Mav 2 56*4 Jan 12 32 % May 55 Dec
5,800 189 May 2 231 J ’ n e li 178% -M 2 lb% Oct
as
. . . . . 437% May 2 560 May 2 4 , 135 Jan 198% Oct
13,800 36% May 2 51% Jan 26 , 27% May 3y% Dec
812 83 % J ’ly 3 91 % Jan 2 . ! 83% May 91% Dec
850 *90% J ’ly 16 102 Feb 0 76% Jan 96% Dec
500 16 J ’ly 13 2 2 % Jan 11 11% May 22 % Nos
300 32 Apr 28 45 Jan 11 21 May 46% Yos
78,600 38% May 2 50% Jan 16 37% May 52% Aug
4,300 75 May 2 83 Jan 15 74% Maj 85% Au$
5,7 Oo 62 % Apr27 763q Jan 10 55 % Jan 78% Au*
75 Jan 8 76 J an 2 63 J ’ly 75 Au|
600 80 J ’ly 13 00 J ’ly 27 85 Nov 96 Aug
21,100 27 0 May 2 348 Feb 0 236 Jan 335 Apr
86 May 12
bO J an
3 16 J ’ ly 12 23 % Jan 10 17 Mav 24 % J ’n<
200 33 % Jan 19 51 May 11 15 Ax>r 38% Dec
400 7 7% Jan 15 97% May 8 50 J'ne 82 Dec
400 113 % Feb fc 135 A pr 24. 86 % Jan 121 % Dec
200 93 May 2 003ft j ■ e 1 I 90 Jan 07-4 Aov
U
1,600 L64 May 2 184 % j ’ne 7 152% Jan 183 Sep
17,462 33% J ’ ne27 55% May 10
6,7 Oo 70% J ’ly 3 873 May 10
ft
850 24 J ’ly 12 34% Jan 12 24 May 32 Feb
1,300 48 J ’ly 17 63% Jan 13 50 May 61 Dec
52 Mar 7 76 j ’ne 8 29% May 58% Dec
100 79% J ’ly 26 84% Feb 7 81% J ’ne 87 Oct
400 22% J ’ly 3 373ft Jan 5 22% May 36% Dec
2 ,2 U 49 J ’ly 12 71 Jan 5 52 Jan 70 Feb
0
600 2 7 % J ’ly 3 44% Jan 12 28% J’ne 4 7 % Dee
100 $84 M ayl5 $0 j % Jan ‘ 5 91 J’ne 106 Mai
^
67 J ‘ne26 81% J an 16 50 % May 73% Nos
20,7d0 13 b % May 2 156 % Jan 19 rl34% Jan 1573J 8 ep
234 1 4 7 1 J ’ly 14 162 Jan 26 161 May 175 Feb
8
65 Feb 28 X75% \ avl "
T
1
91 Mai
1U3 J ’ly 12 127 Jan 16 114 May 133 Aus
g
4,450 183 May 2 26% Jan 10 18% Mas 26 Mai
lUO 140 MarlO 200 j ’ ly 17 U 30 J ’ ne 155 Aug
700 64 J ’ly 6 8 4 Jan 11 56 % Jan 84% Oct
90 Apr 2/ 10 0 % Jan 3 86 Jan 106 Oct
3,2 00 141 % J an 4 164 Mar 24: 89 % Jan 145 Dec
4 Ou 163 % A pr 30 L833 j a_n 11 148 Jan 173 Dec
4
12,900 29 May 2 40% Jan 12 24 Mas 39 % JSov
5,700 64% Apr 27 /4% ja n 18i 56% Mav 73 Aug
25,200 8 0 % May 2 106% Jan 20, 04% Mav 110% Mai
100 133 May 3 140% Jan 12 137 Jan 158 Apr
400 36 A p r 27 4 f Marl^j 33 % Mas 45 Jan
18% J’ nel6 2134 Feb2<±l 17% J’ne 24% Jan
32 % j ’n el6
81 J’n e lo
14,250 127'‘4 J ’ly 2 l o 6 % ja n 8 136% May 167% Mai
|
4,550 5 0 M ar 5 73 % A pr 17| 42 Jan 76% Dec
111 A p r i l 120 % Jan 27j 114 J ’ly 122% Jan
400 80 May 3 9 i% Jan O 74 May 05 Dec
j
« •. •. * 190 J ’ly 10 204% Jan 10, $191% Dec $216 Sep
4
6,200 43% May 2 h/ ^ j an 2 .; 403ft Jan 64 Mai
10.UUO 84 F e b 28 93% Feb 1' 76 May 88% Mai
........ 89% A pr 12 98 j au 6 01% Feb 96 Aug
46,000 L<9% May 2 232% jj ^^'14 165 Apr 216 % Aug
500 LOo Jan 10 1^2 j ’ne
78% Jan 100% Oct
105 Jan 5 166 Jan 29! 100 Jan 108 Feb
........ 105 % Jan 10 135 May 81 85 Jan 100 Oct
146,540 I 2 2 ^ j ’jy 2 i47 % Jan 2-> 131 % May L48 Aug
500 33 A p r28 46 % Jan i5 27 Jan 48% Apr
75 May 2 87 Jan 24 70 May 187% Mai
100 May 4 1 ■ % j an 2 4 105 Feb 112 Mai
Jb
479,400 112 May 2 £164 j an 23 #79 Jan 143% Nov
100 89% Mar 1 96 Jan 2*/j 90 May 07 bsp
90 A pr 3 U 162 Jan 20i 84 Jan 101 Nov
18,350 22% J ’ly 13 2 ^ 8 A pr 2 2 1% Dec 3 7 /g J an
3,7.0b 6U J ’ly 2 68% M ar3i 60% Nov 85 Jan
__ __ 60 Feb 26 72% Apr 3 67 Dec 81% Mar
40% J ’ly 17 5 l % Feb 6 45 Dec 73% Mar
90b 20% May 2 27% Jan 19 20 May 27% Jan
6,200 4834 May 2 61 % J an 24 55 Nov 66% A pr
438,5U0 61 May 2 73% J iy *5| 5 7% M av 7238 Feb
430 116 J ’ly 2 120% J ’ne 6, 115% Jan 122% Dec
0 6 ,300 32% J ’ly 12 42% Jan 26 28 May 38 Sep
1,300 9 / % J ’ly 16 L03 Jan 16 05 Apr 102% Sep
12,600 28 May 2 30% Jan 24 20% Apr 41 Mai
100 l ‘- 5 A pr 27 x 139% Jan 17 120 Dec 141 Dec
125 29% A pr 2 3 36 Jan 22| 22% Jan 37% A pr
2,200 25% J ’ly 2 40% Jan 19, 34% May 43% Apr
2,000 43 J ’ly 13 59% Jan 19 51% Jan 65 A pr

BANKS AND TRUST COMPANIES—BROKERS5 QUOTATIONS
Bid ASK
Mid A sk
B id A sk
Banks
B anks
Mid A sk
Mid A sk
Banks
B anks
B anks
240 250
400
Pacific^].......
C hem ical___ 4100 4250 F ifth ............. 340
M etronolis ^ .
1
Im p & Trad. 560 580
NEW YORK
M etropoli’ n^l f 160
P ark.............. 460 480
Citizens’ Ctrl 138
First
In ter boro ^|_. 155 160
720
People’ s^)___ 300
__ 240 250
Mt M orris^.. 235
I r vi no*
C i t y .............. 263 267
A e tn a ............ 205 215
N ight cfe Day 500 520
Plieinx _____ 100 200
M utualj]. . . . . 300
Coal & Iron . 250
,f offer so n^|.. 210
A m erica .. 515 530
14tn Street^ 200
Na-ssaui] ___ 202 212
Plaza^].......... 570 600
Colonial"] . .. 600
Four t l i ......... 212 218
A m e r Exclt.. 247 252
Liberty*....... 500 520
Prod E x c h t . 170 180
Gfl.lla.tin
A s t e r .......... 650 750
Columbia 1].. 425
Lincoln ....... 1400 1600 N ew Am ster
375 400
PviversideH .. 250 280
N ew Y ork Co 1200
C om m erce... 1 180 1180% Garfield . . .
B attery Park
135
600
Manhattan*]. 290 310
Seaboard ___ 365 ......
N Y N at E x. 200 205
Consolidated 160 170
B o w e r y li___ 320 335
German Am^j 15 b 160
Market & EMI 265 27 0
S e c o n d ......... 700
N ew Y o r k ... 305 312
C’ rn Exchgef, 355 365
German Ev^ 410
Mech anics’
260 270
B u tch ’ s & Dr 160 170
Stated .......... 2000 ......
19th WardU. 350 360
M ech & Tra^; 150 165
Century U
___ 175 185
Discounter.-- 150
German iaTl .. 500
34th S treet.. 205
200
North Araer.
Mer can tile .. 240 250
Chase
East R iver. 150 160
G reenwich ^ 290 305
700
12th Ward*;. 350
180
N orthern___ 150 160
Merch E xch. 170
Ram il to n^i .. 225
Chatham
300 315
Fidelity’l l ___ 200
23d W ard4 190
;..
O rientall'___ 260 270
175
M erchants’ .. 165
Fifth A v eil.. 3800 4200 H anover....... 490 510
Chelsea Ex cl 180
* Bid and asked prices; no sales were made on tins day. $ Less than 100 shares, t Ex-rights, 1] State banks, a Ex-dividend and rights. o-\re>v stock
t Sale at Stock E xchange or at auction this week. s T rust Co. certificates.
h Assessm ent paid,
n Sold at private sale at this nnce.
R an ks

Mid

Ash

Ju l y

2S

1906.]

N e w Y o r k S to c k R e c o r d —

S T O C K S —H I G H E S T A N D

LOW EST

S A L E D E IC E S

+w

S a tu rd a y
J u ly 31

M onday
J u ly 33

Tu& sdav
J u ly

W ed n esd a y
J u ly 3 5

T h u rsd a y
J u ly 30

P Y id a y
J u ly 3 7

Concluded— Page 2

STOCKS
N E W YORK STOCK
E XC H A N G E

S alas 0/
W eek
S h a res

197

L u n y a fo r Y ea r 1 9 0 0

L a n g e fo r l*reviob%

On b a s is o/lU U -sharc Lnf.\
L o w est

H ig h e s t

L ow est

H ig h e s t

1,725 lOS'hJ’ly 3 1224 Jan 22j 105 Jan 122 4 A
L'wrn City Rapid Transit.
Do prof
............
§158% Mayi 160 J’uo
1~46% 147*4 146% 148 * 14 6 4 147% U 7 4 1 4 9 4 US 4 150 4 140 4 151
I futon i'acitie................... 481,800 13S 4 Mny 2 160 4 Jan 241 113 Jan 151% Deo
v
900 91 4 Mny 2 99 4 Jan 2 95 4 Nov 101% Feb
'9 3
95
*93
95
•93
95
94
94
1 1 Do pro!-.......................
94
94 4
o-l
94
800 50 A pr20 98 Jan 18 2 1 4 Jan 92 4 Deo
60
57
57 h *57
i
6 8 1 68*4
4
58 4 58%
1
58 4 5 8 4 * 5 7 4 58*4 Unit Rys L 1v’ t a t San Fran
1,210 55 Apr20 93 4 Jan 17 64 % Jan 94 4 Dec
69
70
70
Do pret........................
63*4 1)9*4 69
70
704 *69 4 72
70°8 703
4
84 4 Apr 19 87 4 Jan 13 80 J’ly 85 Nov
Uuited Rys of St Dou. prei
1,10.
lS 7 J’ly 12 2 6 4 Jan 24 17 4 May 2 4 4 Sep
a
*19
20
19
19
•19
20
*18% 20
19 4 20 4
iv)7 2u 4 \\7 abash...........................
a
3,000 4 0 4 Jan 3 53% Fob 27 37 May 48 Feb
45% 46
44% 40%
46 4 45*8
45 ‘ b 46
46
464
45*4 46 4 * ▼ l)o nrof......................
1,000 32 Jan 3 4 4 4 J’ne 4 27 Nov 30 Deo
*37
38
•37
38
*37
38
*3.'
38
*37
3S
38
3S 4 Western Maryland..........
3,900 16 Apr28 21*4 Feb 6 15 May 19% Mar
IS
•17*4 17 4
fo
17 4 17 h *17
i
* 17
■
18.
17% 173
4
18
IS5 Wheeling < Lalce E rie...
*
100 36 May 2 48 4 Feb 6 36 May 48 Fob
♦37
40
*37
10
*38
40
*37
40
* 38
40
Do 1st pret.................
41
41
400 22 Apr 2 7 2 9 4 Feb 6 20 May 2 8 4 Mar
*24
24 4
25
*24 h 24 4 *24
a
*22
24
24
24
24
24
l)o 2d prof.................
1,100 23 May 2 33 Jan 17 20 Apr 33 4 Aug
23
23
*2*2% 24 4
*23
244
234 244
23 4 23%
24*8 24-\ Wisconsin Central............
1,000 44 J’ly 2 64 Jan 10 45 Jan 6 4 4 Oot
44% 45
453 45% *45
4
46
Do prof.......................
46
464
47
47 4 *46*4 49
Industrial
iHiscell
10 §240 J’nel4 ?261 J’ly 3 §236 Jan §250 Feb
*240 260 **■240 260 *240 260 *240 260 §250 250
*245 265
i dams Express..............
16*3 16*2
1 6 4 17
1 6 4 16%
173
4
167 167 H 7
8
8
17 4 184 A llis-Chalmers.............. 11,45U 16 J’ly 3 27% Jan 24 13 May 24 4 Deo
2,900 45 J’ly 17 67 Jan 24 46 4 May 68 Feb
*40
49
46
47
46
47
4 7 4 4 7 4 14S4 4 9 7
8 49 4 49 V
l)o pref......................
97% 083b
97
98%
96 4 983*
97% 99
98*8 100^ AmalgamatedCopper....... 38 L,50U 9 2 % J’ly 13 1184 Feb 13 70 Jan 111% Dea
98 4
1,400 20 J’ly 3 34 4 Jan 2 < 20 Jan 29 % Ape
*21*4 22*3
22
22
*22
23
243 25 Arner Agricult Chemical.
4
24
254
2 2 4 234
. 93 Apr 23 102 Jan 25 89 % Feb 95 Aug
*90
94
*90
94
*90
94
*90
94
*90
93
*90
93
Do pref......................
22% 23*o
2,600 2 0 4 May 2 35 Jan 6 23 Nov 35 Dec
23*4 24% *2i
24 4
25
25
244 254
♦22*4 24*i Arner Beet Sugar..............
400 85 Jan 22 8 9 4 Jan 8 77 Jan 89 Deo
87% •......... 87 h *......... 87 4 *......... 8 7 4
i
87
87 ♦........ 87 4
Do pref........................
34 h 35%
a
35 4 35%
3 4 4 35
35
35 4
36 4 373 American Car & .Foundry 14,350 32% J’ly 13 47 4 Jan 24 31 May 43% Api
4
355 66 4
a
500 98 4 J’ly 13 105 Jan 24 £ 9 1 4 Jan 1044 Apr
*99*4 101
1003s 100% 1 0 0 4 1 0 0 4 1 0 0 100
101 lu l
*1004102
Do pref........................
29% fi*%
1,800 28 May 2 4 4 4 Jan 11 27% J’ly 40% Dec
30
30
30
30 4 "29% 30 4
3 0 4 30 4
3 0 ^ 31 American Cotton Oil.......
9 0 4 J’ne20 95 Jan 10 89 4 J’ly 97 Feb
*90
9 3*v *90
93 h *90
a
93 4 *90
934
9 3 4 *90
93 4 *91
Do pref...
215 Apr 26 249 4 Jan 26 §2094 Jan 246 Feb
•220 230 4225 225 *225 232 *226 234 *226 234 ’ 225 234 ‘ Ymerican Ex proas
7% May 2 11% Jan 15
700
*8
9
*8
9
4% Aug 14 Jan
*8
9
8
84
84
84
84
S3* American Grass Twine ..
6 J’nel3 10 Jan 26
*6
6*2
6 J’ne 11% Dec
*6
6*a
*6
64
&
*6
64
*64
7
*6 4
6 4 .Liner Hide < Leather___
200 27 J’ne26 43 Jan 25 29 4 Oct 55 % Mai
28% 28% *28
*28*2 294
30
*28
30 4
30
De pref........................
29 4 29 4 *28
64
64 *
b 63 h 64 *4
a
62 4 63*4
6 1 4 63 4
62 *4 62 7
8 6 2 4 (U
Ymerican lee Securities. 23,500 3 5 4 Jan 2 6 5 4 MaylO 24% J’ly 36 Dec
18% 18 • “ 18
$
1,900 17 4 May 7 2 9 4 Jan 22 1 5 4 Jan 23 Dec
19 4 *18
19 4
19
19
19
194
1 9 4 203; American Lmseecl............
*41
42
700 38 4 May 4 53% Jan 20 36 Jan 4 8 4 Api
42
42 4 ’ 41
42 4 *41
43
*41
43
42
42tDo pref........................
4
09% 70*4
6 9 4 70%
68% 704
70
70%
71
72k, American Aiocomotive... 35,400 533 May 2 78 4 Jan 4 33 Jan 7 6 4 Oec
703 7U7e
*
300 110 4 May 2 1 2 0 4 Jan 16 103% Jan 122% Apg
a
I l 4 4 1 l 4 4 *113 114 h *113 114 *113 114
114 114 ♦1134115
Do pref.......................
- *3%
4
4 J’ne29
5 4 N 01
*3 h
a 4
5 Dec
100
-3%
4
6 % Apr 5
4
4
"4 ........
*34
5 Arner. Malt. ctfs. of dep...
*26
27
*26
27
500 25 Jan 8 29% Apr 5 24% Dec 26 N 01
*26
27
27
27
Do pref. ctfs. of dep..
*26 4 27
273s 27^%
*30
40
32
32
400 31% J’ly 24 54% Apr 16
31% 3 L7 *30
s
40
*30
40
*30
40 Arner Pneumatic Service
76 J’ne20 8 8 4 Apr 12
•70
80
*70
80
*70
80
*70
80
*70
80
*70
80
Do pref........................
___ yo*2
200 9 6 4 J’ly 33 101% Jan 18 9 7 4 Sep 102 N 01
96 4 97
"95
97
*95 4 97
*95
97 k Arner Smelters Sec pref B
,
*95*4 97
145 *2 146% 145 1474 U 4 3 1464 145% 14.6% 146 147
4
fc
147 4 I 0 OI4 Arner. Smelt’g < Refin’ g. 130,650 138 4 May 2 174 Jan 18 79% Jan 170% Dec
*11 54 116** 116h il6hi *1 )6 117
1,300 114 J’ne28 130 Jan 12 1114 Jan 137 Dec
a
117 117
11 74 1173 1 1 7 4 118 4
4
Do pref........................
•190 200 *190 2U0 *20J 210 *200 240 *200 240 *200 240 Amorican Snuff
200 J’ly 6 220 Jan 25 163 May 250 N 01
*101 103 *100 105 *lU0 105 "102 103 *102 110 *102 110
1 0 2 % May 3 107 Jan 26 99 Jan 110 Dec
Do pref.
10% 11
*10 *2 11
80U 10 A pr30 1 5 4 Jan 17
10% 10%
6% J’ly 18% Mai
I 0 4 1 0 4 * 1 0 4 114
1 1 4 116« American Steel Foundr’s.
*42
43*2 *41
43
20u 40 May 2 5 3 4 Jan 17 35 4 J’ne 6 7 4 Apx
*42
43
43
43
44
44
*4 3 4 44
Do pref........................
131 132
13138 135% 133*4 13o4 1344137
135 4 1373s 136 41373s American Sugar Refining 56,220 127 4 May 2 157 Jan 8 130 May 154% Dec
*133 138
134 136 *135 138 *135 138 *135 139 *133 138
300 132 4 Apr 30 140 Jan 19 133 May 141 Aug
Do pref........................
*130 131
_____ 130 J’ly 18 144% Jan 19 131 Dec 1484 Jan
*13 0 132 *128 133
*128 130 "125 130 "125 135 Arner. Teleph. < T eleg...
fc
*99^100
J’ly 3 109 Jan 22 91% Jan 109% Dec
99 h 9 9 4
a
i,700
99 l 99%
4
9 9 4 997 .99*8 993 loo 101
s
4
liner. Tohac. (new), firef.
34*$ 34 4
33 'a 34 h
i
3 0 4 34
9,165 32 J’ne3U 48 Jan 6 20% Jan 47% N 01
33 7 3 4 4
q
34'4 364 American Woolen............
34
344
102 102
102 ^ 102 h 10241 03
4
i
1,515 101 J’ly 13 110% Jan 24 93 Jan 1084 Mai
103 103
1027 l0 2 7s 103 103 ‘
8
Do pref............
245 4 248
242% 249
O
242 4 24 84 245 4 2484 247 2494 248 2517, Anaconda Copper.............. 188,250 223 4 May 4 300 Feb 13 L O4 May 295 Dec
*120 130
1-6 126 "120 130 "120 130 *120 130 **120 130
100 119 Apr 27 178 Jan i'd 175 Dec £215 Feb
Ljrooklyn TJnion Gas___
14
14
* 13
io
"13
15
oou 13^t J’iy 9 21% Apr 14 10% Jan 22 4 Dec
*134 15
"1 3 4 15
l l ^ 144^ Orunsw. Dock<fc C.Imp’ i
*4U
63
*40
tf3
*40
63
. . . . . . 40 Apr 16 70 May 9 50 Deo 60% Jan
*40
63
*40
63
6a Buttenck Co......................
36
37
35 4 37*4
7,500 3 4 4 J ’iy 3 49% Jan 24 40 Sep 47 % Oct
36 4 36%
36% 36%
3 6 4 363
4
363 87 4 / fentrai Leather............
4
*100*3 102 "luOha lu2
500 100 J’ly 3 1 0 7 4 Jan 24 1024 Nov 105% N 01
lb l% 1014 1 0 1 4 1 0 1 4 1 0 1 4 1 0 1 4 1 0 1 4 1 0 1 u V ; Do pref......................
49*8 501*
IS** 60is
4738 4 9 4
8
48% 493
4
49 4 52
fc
5 2 4 64 Colorado “Fuel < Iron___ 111,500 4 0 1 May 2 83% Jan 26 38 May 59 Maa
♦77*. yO
*77 4 90
*77h 90
a
200 85 J’ne29 112 4 Jan 29 80 Aug 105 Mai
* 7 7 4 90
SO
g5
Do pref..............
*7 7 4 90
18*4 181*
18^8 187
s
18% 1 8 4
2,200 17 May 2 26% Jan 31 11% May 20 Dec
18
18
184 19 Col. & Hock. Coal & Iron.
184 10 4
*138 4 139 \ 139 h 141 *1394141
a
5,615 130% Apr 27 181% Jan 23 175 Nov 214 Mai
139 78 1404 1 3 841 40
138 6 130 Consolidated Gas (N. Y.).
s
§ 19 *4 19 % ’ 18 4 20
1,927 1 8 4 J’ly 13 28 Apr 4 .................
18 5 18%
S
19 4 19%
197 2 0 4 Corn Products Refg___ 1.
q
19 4 193
4
*76% 78
*76% 7 8 4
100 74 4 May 2 85% Apr 2
*76 4 78
78
78
Do pref
*76
78 4
57*6 5 /%
57 4 67 h
/
6,500 5L Jan 30 65% May 9 £34% Jan 54 % Dec
57
57
56 4 57
57
57
5 7 4 59 Distillers Securit’s Corp* ........ 66
*........ 86 * ........ 86
8 1 34 Jan 3 8 7 % Jan 19 76 May 89 4 Feb
7 ____ 86
*......... 86 ♦......... 86
Electric Storage Battery.
•145 15o
150 150 *145 165 *145 165 *15U 165
400 138 Jan 4 199 Jan 22 60 Jan 145 N 01
155 xoo Federal Mining & smelt’s
*91 H 94*2
a
l,70u 91 j ’ly 3 112% Jan 22 75 Jan 1 1 0 4 Noi
94 4 944 *914 96
94
y5<k
Do pref.....................
* 9 1 4 96
"9 1 4 96
163 163
163 hi163 4 164 165
2,500 160 4 J’ly 13 181 4 Jan 9 169 May 192 Mai
165 1664 165 3 167
4
166 167 4 c eneral Electric...............
18*6 ifc%
18 4 18-4 "18
18 4
174 17%
2,200 17 J’ly 2 2 6 4 lan 15 18% J’ne 254 Dec
j nternational Paper.......
1 7 4 184
17 4 18
*83 4 64
83 h 83 4 *83
a
84
300 82 4 Marl 6 90 Jan 13 76 % Feb 88 4 Dec
*83
84
83 4 83 *
g
3 3 4 A Do pref......... “..........
*48
60
48 J’ne30 #95 Jan 29 48 Oct 100 Feb
*48
60
"48
60
*48
6u
♦48
oO international Power
*48
60
- 42
42
43
46
11,212 28 Jan 15 60 May 8 26 Dec 40% Feb
17
48
4 5 4 46
45
4*54
46
48
Internal Steam Pump..
82
82
83
84
83 4 84% *80
1,700 79 Jan 11 98 May 14 78 4 May 88% Api
85
36
86
84
86 4
Do pref.............. .*___
60
60
593 60*8
4
60
60 4
2,900 5 4 % J’ly 6 68 Jan 15 10 Jan 63 Defl
59 4 60
60 4 603s
(304 KnickerbucKer Ioe( Chici
"65*2 66
"65
66
"65
664
2,500 62 May 2 7 1 4 Feb 6 52 Aug 69 4 Dec
65% 67 4
67
6?
| f ational Biscuit.'........ .
V
6 6 34 8 /
•*117 i i 8
*117 118
117 117
a
200 113h Jan 5 118 4 Feb 10 110 Aug 120% Mai
Do pref...................
117*4 117^4 "117 -4118 *11 741 18
*10 *2 1/** "16% 17 4
670 12 May 2 1 8 4 Jan 15 11 Aug 31% Api
163 16% *16
4
17 4
17 4 ±7 4 * 1 6 4 174 Nat Enameiiug&Stamp’ g
•b-i
89
*83 h 89
a
*83
83
* 8 4 4 89
§86
87
110 85 Marl7 8 8 4 Mar 8 80 Aug 94 Apr
*83
88
Do pref......................
/ 4 *4 75
74
743
4
74
75 4
753 7 9 4 National Lead___
4
31,210 6ti May 2 95% Jan 19 2 4 4 Jan 89 4 Dec
74
753
4
7 5 4 7534
* 101 x 10l% 10 i % ^o 1% *101 4 1 0 . 3 1 0 i 34 1013 101 r 1014 1 0 1 4 1 0 1 %
*
4
2,10u 1 0 0 4 J’ne 7 IO6 4 Jan 22 97% Jan 115 4 Dec
4
4
Do prof........................
4
ISO's 137
3,700 133 J’ly 12 163% Jan 5 140 May 168% N 01
1 3 7 4 18 7*4 137 4 1373 *133 137
8
138 14 14 1 1 1 4 1434 New York Air Brake.
*93 4 94
94
9 4 4 *92
94
2,75d 9 1 4 J’ly 14 107 Jan 12 95% Nov 107 Apr
93
94 4
94
9 4 4 North American Co., new
93 4 93 4
35 h 36
i
34
1
85
34;4 8 0 1 pacific Mail............ 1........
4
34
34 4
5,600 28% J’ne29 5 1 4 Jan 19 33 May 53% Deo
343 34%
4
347 35
a
90
yo
* 8 8 4 90
8 9 4 90
2,625 88 J’iy 13 103 Jan 2 9 7 4 May 1164 Api
90
903
4
90
90
A eop. Gas-L.<fc C. (Cine.,
9 0 4 91
*14
16
1 3 4 May 2 1758 Mar31 12% J’ly 21 May
’ 1 3 4 144 *13 4 14 h * 1 3 4 144 *13 4 14=4 *14
1 4 4 Pittsourgh Coal C o ...
i
52 4 52 4 *49
53
"50
55
*50
55
*50
55
100 50 J’ly 3 62% Jan 19 45% J’ly 80 4 Maj
*50
55
Do pref......................
46
47
46*^ 47%
8
4434 46 4
4 9 4 Pressed Steel C ar...
11,385 43 May 2 64 > Jan 24 33% Jan 68% Dee
46
464
46 4 477
g 48
$97
97
*9 7
98
*y7
98
725 95 May 2 105 Feb 1 87 Feb 101 4 Oot
*97
98
98
98
Do pref........................
9 8 4 99
*22i 224
222 222 *222 225 4222 225 *222 226 *224 230 Pullman Company...
4
200 218 J’ly 9 2T73 Jan 15 230 May 258 Aug
*49
53
oO
50 h " 4 9 4 50 4
a
3,300 44 May 2 62% Jan 15 30 May 63 4 Dec
50% 50%
5 1 4 52
L> ail way Steel Spring...
504, 51
*99
99% *98
99% *98
99%
500 97% J’ly 13 1 0 / Jan 24 93 Jan 106 No?
99% 994 *98 4 99*4
993 993 AA/Do pref..
4
4
•0-4 26^
2
25%
2 5 4 26
27
274
‘^ 74 29 4 Republic Iron & Steel. . . 12,800 2 2 4 May 2 39 Jan 12 15 Jan 36% Deo
2 6 4 27
*95
yo
95
964
95
95
96
97
97
98
4,700 91 ilay 2 11 0 4 Jan 9 67 Jan 108 Deo
Do pref................
9 8 4 993
4
72
i2
7 1 4 72 4
8,300 6 8 4 J’ly 13 97 4 Jan 12 60 Jan 118 4 Feb
7 1 4 72*4
72 4 733
4
74
75-. v loss-Sheiheld St. 6a Iron
J
71% 72 4
*106 115 *106 115 *lU6 115 *106 115 *106 115 *106 H o
106 J’ly 6 113 Apr 3 100 Jan 130 Feb
O Do pref............
loOhi 151*4 143 151
151 l o l
4
5,050 129 Jan 2 £165 Jan 12 68 Jian 148 Deo
1514 152 4 152^>1533 153 4 1 5 5 Tenn. Coal, Iron & RR___
*75
77
76-4 77
*75
80
*75
80
20U 60 May 2 86 4 J’ne 9 37 4 Jan 66 Dec
"75
80
*75
80 Texas Pacific Land Trust
*/
9
8% 1’ne 15 4 Oct
’04
9
"7
9
*7
9
"7
9
300
7 4 J’ly 0 15 4 Jan 19
1 ] nion Bag < Paper.
fc
*70
72
*70
72
*70
72
ID Do pref.........
67 4 J’ly 3 84 Jan 18 68 Tan 82% Deo
*70
72
*70
72
46 h 46 % 46 4 47*4
a
4 5 4 45%
9,500 43 4 May 2 53 Jan 17 19% Jan 48 4 Deo
fc
4 6 4 474t
47 4 473
4
47-4 49 3s U. S. Cast I. Pipe < Foun.
------------914 914
92
Do pref...\..............
300 90 J’ly 3 96% Jan 24 79 4 Jan 97% Apr
9 l7 0 : 7
s
e 92
*X2 0 1.5
125 123 "122 12 6 *122 125 *120 124 *120 125
100 109 May 1 13 84 Jan 26 $110 Dec 134 Fob
United States Express...
* 7o h ..
i
"75
76
94 4 Jan 2 u 77 Jan 98 4 Mai
"77
79
*76
78 U S Realty & impiove’ni
" 7 5 4 76 4
77
79
500 7 5 4 3 Ty
*30-8 37
36 4 364
35
35 4 * 3 4 4 3 5 4 "35
353
4
2,600 24 Mar 1 40 % j ’ne 5 18 Feb 40 4 Apr
36
37 7 U S Reduction 6a Retin’g
t
77
* * 4 4 76 4 *75
72 4 74 4
Do firei...................
1,400 60 Mar 2 2 84 J’ne 6 35 Jan /3 4 Aug
75
75
75
75
754 764
41-4 42
43
44
38 J’ly x 3 5 8 4 Jan 22 33% Jan 58% Sep
44
444
43
43c United States Rubber .
g
42*2 434
42 4 44
*106 io7
*106 lo7
800 XW Y& J’ly 13 £115 Jan 15 98% Jan 118 4 Apr
1064 1064 "1U 54 107
1064.106 4 1064 1064
Do 1st prof.............. .
"77
cO
*7/
80
i
"77
80
75 May 2 £87 h Jan 15 75 Nov 83% Dec
*77
80
"77
80
"77
79
Do 2d p r e f...............
35 * 36
b
3030 3638' 35
36 4
364 38rb 3 8 4 393b United States Steel.......... 534,200 32% J’ly 13 46 4 Jan 20 24% May 43 4 Deo
j
35 4 36%
l O - 6: 102% 10 1 % 164
102% 103-b 103 4 1044 104 4 105 ls. 1054 1064
Do pref....................... 166,500 98% J’ly 3 LI3 4 Jan 20 90% May 107 Deo
*34
26
55
Jo | :J % 3 4 % 3 4 4 6 4 4
A
35
36 4
2,900 31 J’ly 3 58 Jan 2 28% Sep 58% Dec
34 h 36 4 Virgmia-Carolina Chem..
a
*10/ 10/ *4 107 4 107 4 *1u7 4 103 "107 lUS *108 109 4 *lo7 lo9
Do pref........................
100 104 J’ly 3 1 1 7 4 Jan 2 103 % May 118*4 Deo
*40 0 4ihJ * 40 4 4 1 4
,.
40
40
407 4U7 Virginia' Iron Coal <fc C ..
e
e
40
41
500 38 May 2 56 4 Jan 24 36 J’ne 52 4 Feb
*40 h 43
a
*260 300 ; "275 3UU *280 300 *280 300 *280 300 *27o 300
233 Mar 2 3 286 J’ n el2 §226 4 Dec 260 Fob
U / ells Fargo & Co.......
*91 h 92
a
91
914 *9 1 4 92
8*0u *91 Mar 20 94 4 Jan 26 | 92 Jan 95 4 J’nc
"91% 92
92
92
9 2 4 9 2 4 » \ est’n Union T ele’ gpli
* 15 L 156
"151 156
154 154 *152 106
153 154 1"152 156 W eat* gh’ se El 6a A Ig asaen
1
300 1 5 0 4 J ’ly 6 176 Jan 5 152 May 184 Apr
* ........ 1*5
" ........ 1>5
180 J ’ no26 188 Jan 221 187 4 Dec 197 Apr
* .........185
* .........185
*.. ...1 8 5 1* .........L85
Do 1st pref.................
113

113

113

113*4

11141124

113

113

11241134

113 4 114

BANKS A N D TRUST COMPANIES— BROKERS’ QUOTATIONS
Banks
Union Exch*
United..
U S Excha’e*
W ash.H’ljUi*
W esi Side*...
YorkviJle! .

B id
1
A 8k [ Trust (Job.
A s k I Trust Co ’ h B i d
A s k | Trust Co’s B id A s k
|
B id
Banks
A s k | Trust C o ’ h B i d
l
BROOKLYN
220 i
Fifth A ve Tr .............. 565
N Y LifetfcTr 1000 1020
B O LYN
RO K
*
|
114
Fulton. ....... 325
........ I New YorkTr 715 730 | Brooklyn Tr 400 415
I
X. Y. CITY
Citizens’ ...... 170 180
130
Guaranty Tr 520 .........| StandardTr’t 410 4 40
|
Flat bush_ 260
1Bankers’ Tr.
5 J0
_
First.............. 390
Guardian Tr 225
........ 'LhtieGu 6a Tr 590 610
Franklin___ 326 336
1 Bowl’ gGreen 64»] 6 175 , KmoK ’rb’ kT J3U0
Home Ban k* 160
1 Tr Co of Am 750 7 0 0
1
! Broadway Tr. 15 5 1 6 2 41 Law T 1 6a Tr *90 29 74 l Union Trust 1390 1410 ' Hamilton___ 360 360
Manufactrs’ . 390
1
ICentral Tr’st 2050 J150 I Lincoln T r... 625
Mechanical,. 298
......... USMtgc&Tr 440 460 1 i lome. . . . . . . . 185 193
Nassau........ 260 275 : Colon la l ...... 385 400 | Manhattan .. 475 495
Unit States . 1325 1375 ! JenkiDs....... 190 . . . . . .
I
325
Kings Co..
(Tohimbia
BR O LYN
O K *
Nat City
260 270
300
310
|
i Commonw’ U
b
95
North Side* . 375
Metropolitan
■ 9)
"> 4
Washington 400** ‘ __ | LT1st L A T r .
,|V
206
Borouclir_
_ 150
315
ProspectPk* 150 165
Empire
MortonTrusL
I j/eopiQ h . . . . . 840 j356
I
Broaaway" .. 400
Terminal..
150
Equitable Tr
Mutual
Brooklyn* .. 145 155
|William ah'g.| 225 235
|
Union*ii......... 227 235
Farm Lo 6a Tr ........ M25 1 Mut. Alliance
■55
B and asked prices; no sales oil this (lay. § Less than 1 Oshares.
ui
U
t Kx-nghte. b New utock. o K
x-divid*nd and
right*.
Sale at Stock Exchange or at auction this w o Ex stock cU iJ on a Xo-ut Co. certificates. 1 jH u ..-,
oek
v L d
.
i a k marked with a paru
,;rA
pU (V State banks.
aro
)
B id

A sk

210
10.)
125
225
600
490

1________
1

New York Stock Exchange— Bond Record, Friday, Weekly and Yearly
OCCUPYING POUR PAGES
RONDS
N. Y. STOCK E X C H A N G E
W

eek

Week*s
Range or
Last Sale

Brice
Friday
July '-17

E ndeng J u l y 27

*
0

Range
Since
Ja/nuary 1

RONDS
N . Y . STOCK EXCH AN G E
W e e k E n d in g J u l y 27

.2
Brice
jLYidav
£ 1 July 27

Week* s
Range or
Last Sale

Range
Since
©o
■ C January 1
>Q

Low
High No
10
104
104
103% J’ne'OB
103*4 J ’ne’Od
102% J ’l y ’ 06 ....
107 J’ ne’ 02
104% Oct ’ 05
102*4 ..
103 ' 103*4 103% May’06 . . . .
103 103*4 102*4 J ’l y ’06 ....
1*29 130 ] 29 May’06 ....
130 131 129*4 J’ly ’ 06
110 ........ 111 May’06 —

Bid
A8k Low High No Low H iga
Low High
i108*4 Ang’ 05
103% 104% Cen RR<fc B of Ga col g os 1937 71-N 106*4
13 1125% 132
103 104% Cent of N J gen’ i gold 5s. 1987 J-J 126
! 125*4 126
125 hi J’ue’06
126 ........ 1
125% 131%
,
R egistered................ A1987
102*4 103%
1 1 2 % 113
102 % 104r
%
Am Dock S Imp gu o s.. 1921 r . i 1 0 8 1 1 2 112*4 M a y ’ 06
o
Le S Hud R gen g q g o s 1920 j . j 1 0 4 4
o
102 Mar’ 06
102 1 0 2 %
Leh S Willis B Coal 6s.. 1912 M-N 100*4
o
102
102
100 1 0 2 %
103 103*4
Con ext guar 4%s___ ^1910 Q-M 101
102*4 104%
N Y S Long Br gen g 4s 1941 M-S
o
Q-J
Q-F
129 129% Cent Pacific See So Pacific Co
Q-F
129% 132*4 Chas So Sav See A tl Coast Line
103
108*4 H I
106*4
Clies S Ohio g 6s ser A .. #1908 A -0 103 % ....... 104 J’ne’ 06
o
Q-F
107 1 1 0 %
Gold 6s............................ al911 A -0 107*4....... 107 May’06
Foreign Governm
ent
117*4 J’ly ’06
116*4119%
1st consol g 5s................. 1939 M-N ........ 118
99% 100 105 96*8 101 %
114% 116
Japanese Govt 6s sterl’ g.1911 A-0 *100 Sale
Registered.................... 1939 M-N 115 ....... 116 J’ne’ Oo
99 % 208 97% 101%
General gold 4%s......... ..1992 M-S 107% Bale 107*2 107*4 12 105 109
2d series 6s.....................1911 A-O X 98% Sale 98%
94
94 % 136 90% 95%
104 May’ 06
104 105
£ loan 4%s Otis lull pd. 1925 F-A t 94% Sale
Registered.................... 1992 M-S
90%
91% 93 89% 93%
112 112
2d series 4%s ctfs full paid. J-J X 90*4 Sale
Craig Valley 1st g 5s___1940 J-J 105 ........ 112 F eb ’06
88
82%
82% 19 82
100% 102%
£ loan 4s ctls lull paid.. 1931 J-J t 82*4 83
R S A Div 1st con g 48.. 1989 J-J *95 100 100*4 J’ly ’06
o
95 100
9 103% 108
96*4 May’ 06
105% 106
9 6% 96*4
Repv b oi Cuba 5s exten debt.. M- 8 X ........ 106
2d consol g 4 s ................1989 J-J
4
U 8 o? Mexico s t g 5s ot 1899 Q-J t ........ 100
98*4
98*4 16 98% 101 %
Warm Spr val 1st g 5 s ..1941 M-S 1061 ........ 113*4 Feb’ 05
1 92*8 90
99*4 F eb ’ 06
94%
94%
94% 95
Gold 4s of 1904................1954 J-D
99*4 99*4
Greenbrier Ry ls t g u g 4s ’ 40 M-N ........ 100
80*4 J’l y ’ 06
7y
82%
o
XL hese are pr ices o n the 0 asis o/ $5 to £. Chic S Alt RR ref g 3 s...1949 A-O ........ 81
State Securities
76*2 77% 76*4
76*4
Railway 1st lien 3% s... 1950 J-J
76*4 8 2
101 A p r’06
80 ** May’ 05
100 % 101
Alabama class A 4 to 5___ 1906 J-J
Registered.................... 1950 J-J
109*4 Oct ’ 00
Class B 5s.........................1906 J-J
Clxlc Burl<fc Q—D envD 4s 1922 F-A i o i ’ 'III.; 102% J’l y ’ 06
99% 102%
102% Mar’02
91
95*4
91*8 91*4 91%
Class C 4s.........................1906 J-J
91%
Illinois Div 3%s..............1949 J-J
96% Feb ’05
11 i Mar’ 02
J-J
Currency funding 4s___1920
Registered.................... 1949 J-J
101*4
117% 118
101 1 0 5 %
Diet of Columbia 3*65s— 1924 F-A 116 ........ 117% J’ne’06
Gold 4s.......................... 1949 J-J 101*4 Sale 101
105% D ec’ 04
Louisiana new consol 4s.. 1914 J-J 100
Iowa Div sink fund 5 s ..1919 A-O 106 ....... 110*4 Jan ’ 05
100% J ’ ly ’ 06
2 101 101
*101 ........ 101
101
I0o 102%
North Carolina consol 4 s .1910 J-J
Sinking fund 4s............ 1919 A-O 100*4.......
103 J’l y ’ 06
122 J’ne’ 06 • • 122 122
102% 107
6 s ...................................... 1919 A-0
Nebraska Extension 4 s. 1927 M-N ........ 103
120 Mar’00
104*4 May’ 06
So Carolina 4 %s 20-40....... 1933 J-J
Registered.................... 1927 M-N
104*4 104*4
2 95% 96*4
99 J ’l y ’ 06
95*4........ 95%
Tenn new settlement 3 s..1913 J-J
95*4
98
98
Southwestern Div 4s___1921 M-S 100
95% D ec’04
Joint bonds See Great North
Sm all........................................ J-J
___ 94*4 96*4
104% Sale 104*4 104%
94% Mar’ 06
102 % 107
Virginia fund debt 2 -3 s ...1991 J-J
Debenture 6s...................1913 M-N
*23
25
24% J’l y ’00
20
29%
108*4 112*4
Han So St Jos consol 6s. .1911 M-S 109 *2.......... l lu J ’ne’06
6s deferred Brown Bros ctls.
U
94% 96*4
Cliic<fc E 111 ref So imp g 4s 1955 J-J ........ 92 h 95% J’ ne’O
i
Railroad
1st s f cur 6s...................1907 J-D 102*8........ 102*4 J’ ne’06
1 0 2 % 104%
132
139
labama Cent See So By
1st consol g 6s................. 1934 A-O 131 ........ 132 J ’l y ’ 06
116% 120
laba M nil See A t Coast Line
General consol 1st 5a___1937 M-N ........ 117% 116% H6%
118*2 F e b ’ob
118% 1 1 8 %
Albany So Susq See Dei So Hud
Registered.................... 1937 M-N
115
114% 1 1 8 %
Allegheny Valley /S'eePennRK
Chic S Ind C Ry 1st 5 s.1936 J-J 115 119*2 115
o
Alleg So West See Bud R < P
fc
Chicago S Erie See Erie
o
2 90
130 J ’l y ’ 06
91 Sale
90
91
130 137
Ann Arbor 1st g 4s........ A1995 Q-J
99
Chic In So Louisv ref 6 s ... 1947 J-J 129
114% J’ne’ 06
1 1 3 % 11 4 %
Atch TSo S Fe—Gen g 4 s.1995 A-O 102% Sale 102*4 103% 111 100 104%
Refunding gold 5s.......... 1947 J-J 112*2
3 99% 105%
107% J’ne’Od
Registered....................... 1995 A-O 101*4........ 103*8 103%
Louisv N A So Ck 1st 6s. 1910 J-J 105*4
107
108%
108% Mar’06
108% 1 0 8 %
Conv g 4s......................... 1955 J-D 10 l *4 Sale 100 % 101 % 236 100% 105*4 Chic Mil So St P term g 5s 1914 J-J 1 0 6
105 % 111
101 lOl*^ 100*4 101 l4 5o 100 % 102 %
108*2 108% 108%
General g 4s series A ..«1989 J-J
Warrants for 50-yr conv 4s..
94% 95
109% J’ne’ 04
7 91
94*8
94*4
98%
Adjustment g 4s..........h 1995 Nov
Registered...................el989
91 % 94
95 Sep ’05
93% J’ne’ Ob
93
97
R egistered................. #1995 Nov
General g 3%s series B. e l 989
17 91
92%
93
97
92*8 Sale
Chic & L S u Div g 5s___1921 J-J 109*8 111*2 115% O c t ’ 05
Stamped..................... #1995 M-N
115% J’ ne’ 06
115*4 118 *4
Chic S Mo Riv Div 5 s ...1926 J-J 111*8
o
Debentures 4s Series E .1907 F-A 1 0 1 % ........ 99% May’ 05
9 9 % ........ 98% A pr’ 06
108 A p r’06
107% 108%
Series F .........................1908 F-A
Chic S Pac Div 6s.......... 1910 J-J 104
o
98*4 98*4
114 J’ne’06
9 8 % ........ 400 % Jan ’ 06
100 % 100 %
113% H o
Chic So P W 1st g 5s.......1921 J-J 111*2
Series G.........................1909 F-A
110 J ’ne’ 06
107 % 110%
97*4........ 99% Jan ’05
Dak S Gt So g 5s............ 1916 J-J 105*2
o
Series H ........................1910 F-A
96 ........ 98% Nuv’04
137*2 J’ly *95)
Far So Sou assu g 6s....... 1924 J-J 122
Senes 1..........................1911 F-A
9 3 % ........ 97 Oct ’ 04
113 J’ne’ 06
111*8113
Series K ........................ 1913 F-A
Hast So D Div 1st 7s.......1910 J-J 106*2
106 Aug’ 04
99% F eb’06 —
1st 5s..............................1910 J-J 100*2
98% 101%
East Okla D iv 1st g 4s.. 1928 M-S
182 *2 A p r ’06
18 2 % 1 8 2 %
A tl K nox So N See L S N
o
I So D Exten 1st 7s........ 1908 J-J
111*2 May’ 06
111 % 1 1 3 %
99*4 100*4 19 98*4 102%
Atlantic Coast 1st g 4 s.#1952 M-S 100% Sale
LaCrosse So D 1st 5s___1919 J-J 107*6
106% A p r’05
Charles So Sav 1st g 7s.. 1936 J-J 138*8 . . . . . .
Mineral Point Div 6s___1910 J-J 101
105 J’l y ’ 06
105
132% 132%
Sav F So W 1st gold 6s.. 1934 A-0 128 % ........ 132% Jan ’ 06
So Minn Div 1st 6s........ 1910 J-J 104*2
108*4
106% F e o ’ 06
1st gold 5s.................... 1934 A-0 114*4........ 112% J a n ’04
Southwest D iv 1st 6s___1909 J-J 102*8
106*4 106*4
112% A p r’ 06
Ala Mid 1st gu gold 5s ..1928 M-N 111% ........ 114% Nov’05
W is So Minn D iv g 5s___1921 J-J 109
112*4 115*4
108*4 Mar’ 06
97*4........ 99% Mar’ 06
108*4 1 0 s *4
Bruns S W 1st gu g 4 s ..1938 J-J
o
Mil So N o 1st M L 6 s ....1910 J-D 106*2
991 99^2
a
115 F eb’ 06
91%
92% 16 90
115
115
L & N coll g 4 s..............01952 M-N 92 % Sale
1st consol 6s................. 1913 J-D 111
95%
95: ........ 98 May’ 06 . . . . 98
%
122% J’l y ’ 06
122 % 1 2 6
Sii Bp Oca So G g u g 4 s ..1918 J-J
99% Chic So N orthw cons 7s___1915 Q-F 122
102% J’ ly ’ 06
102*4 105 %
Atlantic So Danv See South Ry
Extension 4s........ 1886-1926 F-A 101%
101 J ’l y ’06
101 102
Austin & N W SeeSoM Pacific
Registered.......... 1886-1926 F-A
94 Sale
93%
94% 36 93% 97
98*4 J’l y ’ 06
98%
97
100%
•alt So Ohio prior Ig 3 % s.l9 2 5 J-J
General gold 3%s............ 1987 M-N
103 Nov’ 98
95 J’ne’ U6
93
95
Registered............... #1925 Q-J
R egistered................. *>1987 Q-F
A -0 103 Sale 102% 103
L13 113
30 101 105%
Sinking fund 6 s ...1879-1929 A-O ii*2*‘ 113*4 113 J’ne’06
Q-J
114 % F e b ’ 06
L14% 1 1 4 %
102% 102%
1 l()0 ^ 103^2
Registered.......... 1879-1929 A-O
109
109
1 0 8 % 109*4
P J un < M D.iv 1st g 3 %sl925 M-N *88 % ........ 91 J’ne’06
fc
90% 92
Sinking fund 5 s ...1879-1929 A-O io 9 “
107 % 1 0 7 %
97 % Sale 97%
97%
2 95% 99%
107*2 J’ne’ 06
Registered.......... 1879-1929 A-O
P L E^fe W Y a Sys ref 4sl941 M-N
90% Sale 90%.
90*4 39 90
102*4 104%
Soutliw Div 1st g 3 % s...l9 2 5 J-J
Debenture 5s...................1909 M-N
2 03 '102*4 J ’ly ’ 06
93
92% J’ ne’05
104 Mar’04
R egistered................ 7il925 Q-J
Registered.................... 1909 M-N
105*2 J ’ly ’ 06
105% 112%
Monou Riv 1st gu g 5s. .1919 F-A 106% ........ 108% J ’l y ’05
Debenture 5s...................1921 A-0 106
108% Jan ‘04
Cen Ohio R 1st c g 4 % s..l9 3 0 M-S 101% ........ 109 A p r’05
Registered.................... 1921 A-0 105*2
113
113 117
Pitts Clev So Tol 1st g 6s 1922 A-O 117% ........ 119% M.ar’04
Sinking fund deb 5s.......1933 M-N 113 114 113
93 ........ 97 J ’l y ’06 . •• 97 100
117 F eb ’ 06
117 117
Registered.................... 1933 M-N
Pitts So W est 1st g 4 s ... 1917 J-J
•
Bat Creek S S See Mich Cent
o
Des Mo S Minn 1st 7 s..1907 F-A
o
Beech Creek See N Y 0 & H
105% Dec ’05
North Illinois 1st 5s___1910 M-S
104 D ec’05
Bellev So Car See Illinois Cent
Ott O F S St Paul 1st 5s 1909 M-S 1 0 1 %
o
102% 102%
102% J’ne’ 06
Bklyn So Montauk See Dong I
Winona S St Pet 2d 7 s ..1907 M-N 101 %
o
122% 126%
Bruns & West S€e A tl Coast.
M il L S So W est 1st g 6s 1921 M-N 123*4
123% J’ly ’ 06
117%118
E xt S Imp s fund g 5s 1929 F-A 117 118*2. 117% May’ 06
o
Buffalo N Y < Erie See Erie
&
142% F e b ’ 02
Buffalo R So P gen g 5 s ... 1937 M-S 118% ........ 119% P l y ’06
Ashland Div 1st g 6 s.. 1925 M-S 124
116% 119%
A-O
L28 % 128%
Mich Div 1st g 6s........ 1924 J-J 1 2 4
128% F e b ’ 06
J-J 112% ........ 103 A p r’ 97
105% sep ’05
Convertible deb 5s___1907 F-A
109 Sep ’ 03
In com es....................... 1011 M-N 102
Rock So Pitts 1st g 6 s ... 1921 F-A •123%........ 124 A p r’ 06
124 124
117% 120%
Consol 1st g 6s............192 J-D 123% ........ 123% Feb’ 06 — 127 128% Chic Rock Ial S Pac 6 s ... 1917 J-J 117 118% 117% J’l y ’06
o
117% 119 %
117% J ’l y ’ 06
Registered.................... 1917 J-J 117
Buffalo So Southwest See En
95%
General gold 4s............... 1988 J-J 100 101 100*4 100% 24 99*4 103*4
Buff So Susq 1st ref g 4s.#195 J-J . ....... 95% 96%
3 95% 99%
99 102
100% 100 J’l y ’ 06
Registered.................... 1988 J-J
Bur C R & N See C R I & P
Refunding g 4 s ..............1934 A-0 *93% Sale 93%
03% 63 92% 97
/Canada South 1st 5s.......190 J-J 100% 101 100% 100% 28 100% 103
M-S 105% 105% 105% J ’l y ’06
M-N
97 J’l y ’04
Coll trust SeriesH 4s ..1910
105 108*4
M-S
94
97*4 D ec’ 05
105*4 Jan ’06 . . . . 105*4105*4
J 4s....................... .....1 9 1 2 M-N
M-N
91*2
96 N ov’ 05
M 4 8 ...................... .....1 9 1 5
Carb So Shawn See 111 Cent
M-N
90*4
93 May’ 04
Carolina Cent See Seab Air L
N 4s............................... 1916
M-N 90
89% May’06
89% 89%
Carthage So A d See N Y O & l
O 48................................ 1917
M-N 89%
90 May’ 04
CedR I-a F & N /SeoBCR&IS
P 4 s ............................... 1918
J-D
M-N
76%
77
Chic B I So Pac R R 4 s ..2002
80 75*4 81%
76*4 77
94
95 Mar’ 06
Cen Branch U P 1st g 4 s ... 194$
94
95
79 D ec’ 05
Cen Branch By See Mo Pac
Registered................... 2002 M N
F-A 119% 123 119 May’06
9 l Sale 90*4
91
Coll trust gold 5s........ 1913 M-S
Cent of Ga R R 1st g 5s..n l94(
88% 93
119 121
M-N ........ 111% 111% J’l y ’ 06
100*4 102%
102% May’ 06
Bur Ced R So No 1st 5 s.1906 J-D
109 114%
M-N ........ 111% 113 A p r’ 06
117*4 J ’l y ’ 06
Con 1st So col tr g 5 s...1934 A-0 117%
117*4 119%
113 113
Oct
Registered................. 1934 A-0
120% Mar’03
96
98
98 J ’l y ’06
93*4 99
Oct
111 N ov’05
91 Sale
OR IF S N W 1st gu 58.1921 A-O 109* ‘
o
80
90
35 80% 93
Oct
M So St L 1st gu g 7 s ..1927 J-D
88
39 % 88 J ’l y ’ 06
75% 91
J-I>
105 106%
Choc Ok So G gen g 5s .ol919 J-J 104*2...... 105 May* 06
93 J ’ne’06
93
94%
J - J 108% . . . . . . 115% D ec’ 05
111 111
Consol gold 5s..............1952 M-N 1 0 7 % .... 111 May’06
J-J 108% ........ 115 Nov’ 05
Mid Ga So A tl D iv 5s..
Keok S Des M 1st 5s___1923 A-O 106%109 108 Apr r06
o
108 111%
J-J 108% ........ 115% Aug’ 05 —
Chic St l So N O See ILL Ctent
------- _______
L S. Government.
J.
U H 2s consol registered.#1930
U 8 2s consol coupon___#1930
U S 3s registered............ /cl918
U S 3s coupon.................../cl918
U S 3s reg small b on ds../cl918
U S 3s oou small bonds..Id 918
U S 4s registered............ A1907
U 8 4s cou pon ..................A1907
U S 4s registered............... 1925
U S 4s cou pon .................... 1925
Philippine islands 4s. 1914-34

Q-J
Q-J
Q-F
Q-F
Q-F
Q-F

Bid
104
1U4
103
103*4

Ask
104*4
104*4
103%
104%

A

M IS C E L L A N E O U S

Street Railway
Brooklyn Rap Tr g 5s....... 1945 A-O
1st refund conv g 4s___ 2002 J-J
BkC ity 1st con 5 s.1916.1941 J-J
Bk Q Go So S con gu g o s .1941 M-N
Bklyn On El 1st g 4-5S.1950 F-A
Stamped guar 4-5s___ 1950 F-A
K ings Co El 1st g 4s___1949 F-A
Stamped guar 4 s ........ 1949 F-A
Nassau Elec gu g 4 s ___1951 J-J
Conn Ry S Llst<fc ref g4% s ;51 J-J
o
Stamped guar 4 % s .........1951, J-J
Den Con Tr Co 1st g 5 s ... 1933 A-O
Den Tram Co con g '6 s..l9 1 0 J-J
Det United 1st con g 4%s.l932 J-J
Havana Elec consol g 5s. 1952 F-A
Inter-M et coll 4 % s............1956 A-0
Louis Ry Co 1st con if 5 s.. 1930 J-J
Manila Elec 1st So coll 5s. 1953 M-S
... _

105 Sale
94% Sale
104% 109
100% ........
108% 109
........ 93%
93
93%
85% 86%
102% ........

93% 94%
92*4 94
85% Sale
_____
........

*No price Friday; latest price this week.

96
n

105
105
3
9 3 *8
9 4 % L55
107 J’ne’06
100 J ’ne’ 06
108% 199 *18
110 F eb ’ 06
91 May’06
93% J ’l y ’06
86
86 "°*2
102 Mar’ 06
102% A p r’06
95 J ’ne’ O
O
94
94%
93*4
94
85
85%
109 Mar’9 8
98 May’06
a

.T o y *

B O N D S — C o n t in u e d o n N e x t P fu je .

105 109
91% 100
106 107
100 104
107% 113%
110 110
90
95
89
96%
86
89%
102 102
100% 102%

20
28
424

90% 96%
92% 95*4
80*4 90%

—

98

100%

Street R a ilw a y
Met St R y gen col tr g os. 1997
Ref g 4 s........................... 2002
Bway<fe 7 t h A v ls t o g 5 s 1943
Col<fc 9tli A v l s t gu g 5s. 1993
Lex A v & P F 1st gu g 5s 1993
Third A ve R R con gu 4s 2000
Third A ve Ry 1st g 5s.. 1937
Met W S El (Chic) 1st g 4 s .1938
MU El R y S L 30-yr g 5 s.1926
o
Minn St Ry 1st con g 5 s ..1919
N Orl R y & L t gen 4%s ..1935
St Jo R y Lt H<fcP l s t g 5 s.1937
St Paul City Cab con g 5s. 1987
Underground of Lon 5 s ... 1908
Union El (Chic) 1st g o s.. 1945
United R R s San F r s f 4s. 1927
United Rys St L 1st g 4s. 1934
W Chic St 40-yr con g 5s. 1936

F-A
A-0
J-D
M-S
M-S
J-J
J-J
F-A
F-A
J-J
J-J
M-N
J-J
J-D
A-0
A-0
J-J
M-N

110%1I0%
........ 84%
110 % 113
113 118
112*4........
........ 91%
116% Sale
........ 93%
109 ........
90

3 110 117
110*4 110*4
92
18 83
83*4
B4
1 110 116*4
111% 111%
113 119%
113 J ’l y ’06
6 112% 116%
112% 112%
91% 95%
91% J’l y ’06
115% 115% “ 5 115% 119
93% 93%
93% J ’ ly ’ 06
109 109
109 J ’l y ’06
107% 107%
107% F eo’06
89*4
89*4 ’ *3 89*8 92%

114%Nov’ 05
22
93 %
95
106*4 J’l y ’ 05
84% 109
84% Sale 80%
85*4
0
85% Sale 85%
99 D e c’97
94%

114

93% 98%
71
89*4
85% 90

New York Bond Record— Continued— Page

J u l y 28 1006.
BONUS
N. Y. STOCK EXC H A N G E
W eek Ending J uly 27

51

Ohio St L & Pitts See Penn Co
Ohio St P M A O con 6 s... 1930 JCons 6s reduced to 3% s.l93i J.D
Ch St P <6 Mum 1st g 6 s 191 MX
Nor Wisconsin 1st Os...1930 J-J
St P Jo S City 1st g 6 s... 1919 A-0
Clilcago Ter Trans g 4 s ... 191 i J-J
Coupon o t l..............................
Chic A West Ind gen g 6s ol982 Q-M
Chic W Mich See Pere Marq
Choc O t& Gull See C R I & P
Cm H A D 2d gold 4 4 s __1937 J-J
Cin D A I 1st gu g o s ...1941 M-N
C Find A Ft W 1st gu 4s g.’ 23 M-N
Cln i A W 1st gu g 49.1953 J-J
C I St L A C See C C C A St L
Cin S A C See C C C St L
Clearfield A Mah See B K A P
Clev Cm C A St L gen g 4s 1993 J-D
Cairo D ir 1st gold 4s___1939 J-J
Cin W A M Div 1st g 48.1991 J-J
St L Div 1st col tr g 4s.. 1990 M-N
Registered................... 1990 M-N
Spr A Col Div 1st g 4 s.. 1940 M-S
W W Val Div 1st g 4 s ...1940 J-J
C 1 St L A C consol 6s.. 1920 M-N
1st gold 4s........... ......AT936 Q-F
Registered............. A1936 Q-F
;
Cm S A Cl con 1st g 5s. .192S J-J
C C C A 1 consol 7s.........1914 J-D
C*snsol sink fund 7s___ 1914 J-D
General consol gold 6s. 1964 J-J
Registered................. 1934 J-J
Ind B1 A W 1st pret 4 s.1940 A-0
O Ind A W 1st pf 5 s ...<<1938 Q-J
Peo & East 1st con 4 s ...1940 A-0
Income 4s......................1990 Apr
Cl Lor A Wli con 1st g 5s. 1933 A-O
Clev A Marietta oeePenu RR
Clev A Mahon Val g 5 s...l9 3 S J-J
Clev A P iu s See Penn Co
Col Midland 1st g 4s.........1947 J-J
Colorado A Sou 1st g 4s. ..1929 F-A
Colum A Greenv See So Ry
Col A Hock Val See H ock Val
Col A Tol See H ock V al
Coi Conn A Term See N & W
Conn A Pas Rivs 1st g 48.1943 A-0
ak A Gt So See CM A St P
alias A Waco See M K A 1
Del Lack A W estern 7 e...l9 0 7
M om s A Essex ls t 7 s ... 1914
1st consol guar 7s.......1915
Regis’^ red.................1915
18t ref gu g 3 4 s ...........2000
N Y Lack A W 1st 6 s ...1921
Construction 5s.......... 1923
f'erm A Improve 4s___1923
Syr Bing A N Y 1st 7 s ..1906
Warren 1st ref g u g 3 4 s . 2000
Del A Hud 1st Pa Div 7s. 1917
Registered....................1917
10-yr conv deb 4s..........1916
Alb A bus conv 3 4 s ....... 194b
Ken* A Saratoga 1st 7 s.192]
Del Riv RR Bridge See Pa RR
D envA R G r is t con g 4 a .1936
Consol gold 4 4 s ..............1936
Improvement gold 5 s ...1928
Bio Gr West 1st g 4s___1939
M geandcoitrust 4sA.1949
Utah Cent 1st gu g 4s a l9 l7
Rio Gr So gu See Rio Gr So
Des Moi A Ft D See M A St L
Des M A Minn See Ch A N W
Des Moi Un Ry 1st g 5 s..1917 M-N
Det M A Tol See L S A M So
Det A Mack 1st lien g 4 s.1995 J-D
Gold 4s..............................1995 J-D
Detroit Southern—
Ohio Sou Div 1st g 4 s...1941 M-S
Dul A Iron Range 1st 5 s..1937 A-O
Registered....................... 1937 A-O
2d 6s.................................1916 J-J
Dui Short Line 1st gu o s.. 1916 M-S
Dul So Shore A A tl g 5 s..1937 J-J
lT-astot Minn See St PM A M
I-jast Ten Va A Ga See Sodty
Elgin Jol A East 1st g 5 s.1941 M-N
Elm Cort A N o See Leh A N Y
Ene 1st ext gold 4s............ 1947 M-N
2d ext gold 5s.................. 1919 M-S
3d ext gold 4 4 s ............... 1923 M-S
4th ext gold os................. 1920 A-O
6th ext gold 4s.................1928 J-D
1st consol gold 78............ 1920 M-S
1st consol g fund 7s.......1920 M-S
Erie 1st con g 4s prior..1996 J-J
Registered.................... 1996 J-J
1st consol gen lien g 4 s..1996 J-J
Registered.................... 1996 J-J
Penn coll tr g 4s............ 1951 F-A
50-year conv 4 s A ........ 1953 A-0
Bud N Y A Erie 1st 7s. .1916 J-D
Bud A S W gold 6s........ 1908 J-J
Chic A E n e 1st gold 5 s..1982 M-N
Jed RR 1st gu g 5s___al909 A -0
Long D ock consol g 6 s..1935 A-O
Coal A RR 1st cur gu 6s. 1922 M-N
Dock A Imp 1st cur 6s..1913 J-J
N 'x A Green L gu g 5s. 1946 M-N
N Y Sus A W 1st ref 5s.1937 J-J
2d gold 4 4 a ...................1937 F-A
General gold 6s............1940 F-A
Terminal 1st gold 5 s ...1943 M-N
Regis $5,000 each...1943 M-N
M id B B o fN J 1st g 6 s.1910 A-0
WLLk A Ea 1st gu g os.1942 J-D
Ev & Ind 1st con gu g 6 s..1926 J-J

Price
Friday
July a ?

Weef&s
Range or
Last Sale

Sid
Ask
1304135
92 4 ........
........ 133
*125 ........
120 4 ........

10238 Sale
........ 1004
........ 100
........ 100
........ 99
95 4 ........
105 4 ........
100 103 4
110 4 ........
1 1 8 4 ........
1 2 7 4 ........
...........
9 8 4 ........
7 1 4 .......109*4........
1 1 2 4 ........
73 4 Sale
93% Sale

D

105% ........
120 " ........
121*6........
1 2 1 4 ........

1 1 0 4 ........
1 0 2 % ........
x021 ..
4
95 ........
128 . . . ^ .
1084 Sale
109% Sale
1333s........
9838 994
103°j 1084
107 Sale
95
95%
87
88%

93 4 96
........ 92
........ 8 9 4
112 ........
1034
110 1124
1 1 6 4 ........
105 ........
112 ........
1 0 8 4 ........
1 1 2 4 ......
100% ........
130 4 132
<128 ........
10041004
90
90 4
........ 90%
84% Sale1034 Sale
120 *v........
*994 ........
119 U 0 4
1 0 2 % .......
. . . . . 134
1 1 1 4 ........
Iu5 ........
1 1 4 4 ........
1 1 5 4 ........
1 1 7 4 ........
* 1 0 6 4 ........
112

......

Low
131
93
133
129T
120%
101 4
98 4
113 4

£ .0

Range
Since
January 1

BONDS
N. Y. STOCK E X CH AN G E
W kkk Ending J uly 27

*■2
V
-

High No Low High
J T y ’ 06
131 136
Dec *03*
J’ ne’ 06
131% 1354
Mar’04
J’ ne’06
120 4 124%
MnyTH>
10041 014
JTy *06
98 1004
113 114%
JW 06

2

199

P r ice
fi Y i d a v
J u ly 27

W e e k 's
R a n g e or
L a s t S a le

Ask L ow

AC
;

R ange
S in c e
J an u ary 1

High No

L o w H ig h ,
Erie A Pitts See Penn Co
f*
Evans A T H 1st cons 6s. 1921 J-J 117 4 ........ 122 Oct ’O
A-0 1064 109 4 109 4 J’ne’O
O
107 4 1 0 -4
114 Apr’05
A-0
A-0 103 4 ........ 1064 Feb’06 .... 1064 106%
C'argo A So See Cli M A St i
l lint A Pore M See Pere Mai
Fla C A Penln See Sea Air Lint
105 Mar*9s
Fort St U D Co 1st g 4%s.l941 J-J
113
1 111 115
Ft W A Den C 1st g 6s___1921 J-D 113 Sal* 113
87 JTy’06 —
87
91
Ft W A Rio Gr 1st g 4 s ... 1928 J-J ........ 86
113 Oct *00
/ i al Har A S A See So Pac Co
101 Dec’05
107 4 J T y ’06
........ 103
1074 i l ‘2
VTal H A H of 1882 1st 5 s.1913 A-0
Georgia A Ala See Sea A Lino
91 Mar’ 06
91
91
Ga Car A Nor See Sea A Line
Georgia Paoiflo See So Ry
Gila V G A Nor See So Pac Co
Gonv A Oswegat See N Y Cent
r
102
102 4 14 102 105% Grand Rap A Ind See Penn RR
1 0 0 4 1 0 0 4 Gray’ s Pt Term See St L S W
100 4 J T y ’ 06
98 Sale 974
100 101% Gt Nor—C B A Q coll tr 4s 1921 J-J
100 J ’116*06
98 123 97 101%
" " i 99% 103
99%
99%
98 JTy’06 —
R egistered./i..................1921 Q-J ........ 98
97 4 1 0 1 4
100 O c t ’ 04
Greenbrier Ry See Ches A O
99T F eb’05
Gulf A S 1 1st ref A t g 5s 51952 J-J 1 0 1 4 ........ 1014 JTy’06 .... 1014105%
94 4 Aug’03
an A.St Jo See C B A Q
105 J an ’ 04
ousatonio See N Y N H i
— 101 103 4 Hock Val lstoonsol g 4 4 s .l l
105% Sale 105% 105%
101 J ’ne’ 06
6 104% n o
J -J
101 May’06
105 4 JTy ’04
101 103
J -J
J ’ ne’06
112%115
A-O 100 ........ 100 May’06
Col A H V 1st ext g 48..]
100% 1 0 1 4
1184122
11 84 J ’l y ’ O
O
Col A Tol 1st ex 4 s .......1955 F-A 101%103 1004 JTy’0b — 100 100
Houst E A W Tex See So
134 F eb ’06
134 135
llinois Central le t g 4 s. 1951 J-J 1 0 9 4 ........ 110 Dec’05
1134 Mar’ 00
104 4 N ov’ Ol
Registered................... 1951 J-J
9 9 4 ........ 100 "J ’ne’06
106 io o
1st gold 3 4 s .................... 1951 J-J
1 96410 1
954 JTy *06 .... 9 5 4 9 5 4
984
984
Registered.................... 1951 J-J
10 69
80
99 4 J’ne’06
714
72
Extended 1st g 882s........1951 A-0
99% 1014
70
O ut ’ 04
1154 Mar’06
1st gold 3s sterling........ 1951 M-S
11541154
106 J’ly ’06
Coll Trust gold 4s..........1952 A-0
104^2 i 07 4
116 4 JaD ’0*
102 O ct’01
Registered.................... 1952 A-0 * ........ 106
1 103 1064
L N O A Tex gold 4s ...1953 M-N 1044104% 104 4 104 4
7*2%
784 2 6 71
79%
100 May’06
100 100
Registered.................... 1953 M-N
39 90
106 4 Mar’03
93'T
94
964
Cairo Bridge gold 4s___1950 J-D
92 4 Sale 9 2 4
1 9 1 4 94%
92 4
Lom svDivATerm g3 4s. 1953 J-J
Middle D iv re g 5 s .......... 1921 F-A 105 ........ 123 May’ 99
784 A p r’06 ___ 7 8 4 78 4
Omaha Div 1st g 3s.......1951 F-A ........ 81
82 4 May’ 0 b . . . . 82 4 8 2 4
St Louis DivAterm g 3s. 1951 J-J
Registered.................... 1951 J-J
Gold 3*28..................... 1951 J-J ........ 91% 9 3 4 J’n.e’06
9 3 4 93 4
101 % Oct ’99
Registered................. 1951
104 % A p r’ 06
100 "N ov ’ O
O
104% 107%
Spring Div 1st g 3 4 s . ..1951 J-J
1*20 J’ ne’ 06
107% 107%
120 1264
Western Lines 1st g 4s.. 1951 F-A 101 % ........ 107% Jan ’ 06
121 J T y ’ 06
121 127
Bellev A Car 1st 6 s.......1923 J-D 116 % ........ 122 D e c’ 05
90 N ov’98
127 J ’ne’05
Carb A Shaw 1st g 4 s ... 1932 M-S
Chic St L A N O g 5s. ..1951 J-D i ‘20% Sale 120 % 120 % 13 120% 1234
119% Mar’04
126% M ai’ 06
Registered.................... 1951 J-D
1264126 4
86 % ........ 93% Muy’ 04
112 M ai’ 06
112 114%
Gold 3 828....................... 1951 J-D
1024 J’ne’06
102 1024
Registered................. 1951 J-D
9 9 % ........ 1104 Jan ’ 05
10 14 May’06
Memph Div 1st g4s.__l951 J-D
1 0 141 044
102 F eb’ 03
103 N ov’ 04
St L Sou 1st gu g 48___ 1931 M-S
133 F eb ’ 06 — 133 133
Ind B1A West See C C C A St L
149 Aug’ 01
108% 108%
Ind Dec A W 1st g 5s........1935 J-J 105 ........ 108% Jan ’06
107*4 108*4 85 107 110 4
1st guar gold 5s............... 1935 J-J 102 ........ 107 4 D e c '02
109% 1093
4 1 105 117
2 99 100
100
9 9 4 ........ 100
Ind 111 A la 1st g 4s......... 1950 J-J
2 116 120
142 4 Mar’05
Int A Great Nor 1st g 6 s..1919 M-N 1164118 1164 1164
102
13 98 1024
2d gold 5s......................... 1909 M-S 102 Sale 102
9 9 4 JTy ’06
75% 774 754 J’ne’06
3d gold 4s.........................1921 M-S
754 80
99 1014
M*8 Mar’06
1114115
1064108
Iowa Central 1st gold o s.. 1938 J-D * 110 % ........ 1114 J’ne'06
107
107
86 M aj’O
c86
88
107 109
GoLd 4s..............................1951 ftl-S ........ 86
4 944 100
94%
95
Jetferson RR See Erie
68% JTy *06
8 6 4 92
ai A A G R See h S A M S
97 J a n ’02
an A Mich See Tol A O C
K C F tS A M
St L A S F
K C A M R A B See St L A S F
Kan C A Paoiflo See M K A T
110 Sep ’ 04
17 7 0 4 754
7 2 4 73
73
73
Kan City Sou 1st gold 3s.. 1950 A-0
63 Oct ’ 00
Registered....................... 1950 A-0
9 94 F eb’ 06 —
994 994 Kentucky Cent See L A N
96% Mar’ 06
95
96% Keok A Des Mo See C R IA P
Knoxville A Ohio See So Ry
8 9 4 J ’ne’06 —
8 9 4 93% [ ake Erie A W i s t g 5 s ..1937 J-J *115 1154 1154 1154 10 1154 119
I j 2d gold 5s......................1941 J-J 110 % ........ 110 % 110 % 2 . 110 % 1134
112 114
113 J T y ’06
North Ohio 1st gu g 6 s.. 1945 A-O 108 ........ 117 J a n ’06 .... 117 117
1124 F eb ’ 06
11241124
L Sho A Mich S See N Y Cent
109 1114
Leh Val N Y 1st gu g 4 4 s .l9 4 0 J-J 1 0 9 4 ........ 1094 JT y ’ 06
112% N ov’05
Registered....................... 1940 J-J
113 4 A p r’ 06 . . . . 113 1134
O _ 98 4 98 4
-.N *98 " . . . . . . 9 84 J’ ne’O _
Lehigh Val (Pa) cons g 4 s.2003 M
Leh V Ter Ry 1st gu g 58.1941 A-0 1 1 1 4 ........ 118% A p r ’00 .... 118% 120 4
109 4 Oct ’99
R egister ed....................... 1941 A-Q
1164 JT y’ 06
1164119%
112 1154
Leh V Coal Co 1st gu g 5 s.1933 J-J 1 1 0 4 ........ 112% A p r’06
964 May’06 . J . 9 6 4 964
94 4 99
107 4 J a n ’ 06
1 0 7 4 1 0 7 4 Leh A N Y 1st guar g 4 s .. 1945 M-S
Registered....................... 1945 \f-S
1144 F eb ’ 06
L14 1144
113% 113%
El C A N 1st pf 6s ....... 1914 A-0 107 ........ 113% Jan ’06
107 4 May1
06
107 4 1084
1054 Jan *0t .... 1054 105 4
1154 Jan ’ 06 — 1154 1154
Gold guar 5s................. 1914 A-0
103 Feb *05
Leh A Hud R See Cent of N J
132% JTy :06 — 128% 1344 Leh A Wiikesb See Cent of N J
Leroy A Caney Val See Mo P
133 133
133 F eb ’ 06
Long Dock See Erie
6 99 4 102
99% 100%
1144 117
1004 A p r’ 06
1004 1004 Long Isl’ d—1st con g 5s./tT931 Q-J 113% ........ 115 J’ne’06
6 89 4 93 4
1st consol gold 4s........ 7!l931 Q-J 1004 .
90%
90 4
General gold 4s............... 1938 J -D ........ 9 8 4 98 4 J’ne’ O1 ___ 98 4 102 4
88 Nov’04
102 N ov’05
98
Ferry gold 4 828............... 1922
94 4
94% 28 91
99 4 Oct ’ 05
Gold 4s..............................1932 J -D
102 4 lb3% 31 100%109%
’ly o e
96 101%
97% 98 4 W
Uuified gold 4 s ............... 1949 M-S
127 N ov’05
110 J ’ ne’04
Debenture gold 5s.......... 1934 J -D
104% lU4 v
104% F e b ’06
3 99 102 4
9 9 % ........ 100
100 .
Guar ref gold 4s.............. 1949 M-S
119% J T y ’06 .... 118 122%
102*4 Due 05
Bklyn A Mont 1st g 6 s .. 1911 M- S *1054 . . . . . .
f
1st 08 ..............................1911 M-S n u i ........ 103% JTy ’ O ___ 103% 103%
135 4 JTy ’06 .... 1 3 541 354
112 Mar’ 02
N Y B A M B 1st con g os 1935 A-O 110
118 J ’Jy’ 04
111 J a n ’ 06
111 111
115% D ec’ 05
N Y A R B 1st g 5s.......1927 M-S
1124 JTy 05
Nor ShB 1st con g gu 5sol9 32 O-J 107%
1214 Oct ’ 05
105 J’ ne’O
O
LU5 105
Louisiana A Ark 1st g 5s. 1927 M-S ...... : 105
117 J T y ’ 06
115 118
Louisv A Nashv gen g 6 s. 1930 J -D *1154 ------- 1154 J’ ne’ 06 . •. • 115 4 1204
103 103
103 F eb ’06
120 1214
Gold 5s..............................1937 M-N 116% ........ 121% Feb’ 06
105 110
1064 JTy ;06
Unified gold 4s............... 1940 J-J 100% Sale 100 4 10 % 27 100 4 104 4
118 May’06
11541154
_
L0l% JTy ’ 06 _ 100 101%
Registered.................... 1940 J-J
.1
1114 1154
Coll trust gold 5s............ 1931 M-N ........ 113% 11 4 J ’ne’ oo
107 109 4
107 J T y ’06
97%
97%
7 97 100%
n o .TTift’Od
110 113
97 4 98
5-20-yr col tr deed g 4s. 1923 A-0
O
E H A Nash 1st g 6 s ___1919 J -D 1 1 0 4 ........ 114 4 J’ne’O
116 A p r’ 061_ TIG 118
_
R id

H

I

K

MISCELLANEOUS BONDS—Continued on Next Pane.
ixtis and E lectric Light
Atlanta G L Co 1st g o s ...1947 J-D
Bklyn L Gas 1st con g 5 s.1945 M-N 107% 1.10 107% 107%
J
i.
r 107% 113 4
* 70
Butfalo Gas 1st g os.......... 1947 A-O
7L
71
68
71
80%
Consol Gas conv deb 6s___1909 J-J 139 141 ,140
25, 137 168%
141
Con sum Gas See P G A C Co
Detroit City Gas g 5s........ 1923 J-J 101 % ........ 104 J’ ne’OB
102 104
_______
Dec Gas Co con 1st g 6s. ..191 - F A 102 4 ........ 1105 Sep ’Uo
Eu Li 111 Bkn See K C o E L A P
|
K d L Ili S eeS Y G A E L H A P
Eq G L N Y 1st con g 5 s..1932 M-F . . . . . . ____ ' L12 X ov’ 03
.....
Gas A Elec Berg Co c g os.194 j - 1. . . . . . . ........ | 6 1 4 Oct *01
Gen Electric deb g 3 4 s . . 1942 F A | mmm
1 89 % JTy VG
mmm
! *864 90
Gr Bap G L Co 1st g o s ...191: F / *
............
........
1>ec ’ O
U
Hudson Co Gas 1st g 5 e ..1949 M-N 105 . . . . . . jlUO j'luyut
|105 108 4
Kan CUy (Mo) Gas 1at g 5s 192 - 1A - O 94 ........ j 98
93
98
ij 98
Kings Co El L A P g 5 a ...193 , A-O . . . . . .
...........
|, . . . . . .
Purchase money 6a.........x997 A-O 116 120 1121 Feb’06 — ,121 122
Ed El 1 Bkn 1st con g 4s 193. 1J - J 1 ........ ........ | 93 4 Mar '06
1
1 93 4 93 4
wNo price Friday; latest bid and asked this week, z Due Jan
?

b

G as and E lectric Light
Lac Gas L of St L 1st g 5s.cl919 Q F
Kef and ext 1st g 5s...... 1934 A 0
Milwaukee Gas L 1st 4 s.. 1927 M N
N Y G K L H < P g 5 s... 1948 J D
&
Purchase money g 4s. ..1949 F A
Ed El 1 1 1st conv g 5 s .. 1910 M 8
1
1st consol gold 5a........ 1995 J J
N Y'<fcQEl L<fcP 1st con g 5sl93U F A
X Y tfc Rich Gas 1st g os. 1921 M N
Fat & Pus G 6c E con g 5s. 1949 M S
Peo Gas < C 1st con g 68.1943 A O
fc
liefunding gold 5s..........1947 M s
< G -L a Cke 1st gu g 5s 1937 J J
;h
Con G Cool Ch ls tg u g o s .’36 J 0
Mu Fuel Gas 1st gu g f>a. 1947 M N
Syracuse Lighting 1st g 5 s.’ 51 J D
I renton G < El 1st g 5s..l949|M b
fc
D
Westchester Light’ g g oh. 1950

108 H
i
6
105 4 ........ 1054 105 4
10 IT
........ 104
103 4 103 4
93
94 H
a
23% 94 4 93 4 J’ne’ O6
.05 109T
J’l
104 105%
92
14 86
86%
87
87 Sale
104 4
102 4 A p r’06 ___
101% ..
113 % JTie’06 -. -!| 13 U 118
1044
Ij
101
lu l
........ iu i
I
.................. 103 Nov’ 05 . — I
. . . . . . . . . . . . 104% Nov*05 ....
123
120 JTie’ O
O
........125
107
100
...... 105 % J’ ne’ Od
107
107 J 'uc in.
........ 107
108
. . . . . . . . . . . . 105 J’llC Ob
i*
. . .... . . . . . . i 03 4 Dec O
lbtj^ 104%
109 ........ ] 10 May 0;
i,
105 ........ 1 0 6 4 Apr O

Due Feb d Duo Apr eDue May / i D u e J ’ly A Due Aug o Duo Get y Duo Doc
;

j Option

«

BONDS
N. Y. STOCK E X C H A N G E
W kkk Ending J uly 27

~c

**

P r ice
J Y ld a v
J u icy 2 7

W e e ld 8
J tw n ge o r
L a s t S a le

s'*?
p

R ange
S in ce
J an u ary 1

B id
A 8k L o w
H ig li N o L ow H ig h
Louiev (fe Naftliv—(Continued)
105%
109 Mar’O
o
LOincfo Lex gold 4 % a ...1931
-N O A M 1st gold 6 8 .... 1930 J-J 127 ........ ] 30 J’ne’06 . . .-.» 128 130
122% 122%
J-J
N 0 A M 2d gold 6 b.......1930 |f_c 119% ........ 122% Mar’06
\
l
... 1J 6 114 Apr’05
P en sacolaL iv gol(10s...l92O
. . . . 120% 120%
St L L iv 1st gold 0s...... 1921 M-S 119% ........ 120% Mar’06
71
79
74% Oct ’05 ....
2d gold 3a.....................1980 M-S
3 116 T1<
116
3
A tl Knox & Nor 1st g6sl946 J-D 110 Sale 116
.
Mender Edge 1st s f g 6s. 1931 M-S 110 ........ 108% Jan’06 . . . 6 108% 108%
9 7 % ........ 100
100
99 101
Kentucky Cent gold 4s.. 1987 J-J
LcfeN < 1 I < M 1st g 4%ft 1945 M-S *105% ........ 108 J’ly ’06 .... 108 110
fc V fc
19 95
98
97% Sale 97%
98
L A N-South M lo m t48.1952 J-J
114 May’06 .... 114 117
N Fla A S 1st gu g 5 s ...1937 F-A ........ 119
Pens A A tl 1st gu g 6s.. 1921 F-A *111 ........ 112% Mar’06 . . . . 112 % 112 %
?
S A N Ala con gu g 5 s ..1936 1 A 112% ........ 115% jYiar’05
Sink fund gold 6s........ 1910 A*C\ 10 4% ........ 107 Lec’05
97 May’O .... 97 100%
G
L A Jetf B dgeCo gu g 4s.. 1945 M-S
L N A A C l i See 0 I A L
ahon Goal See L S A M S
100% 103%
AA
101% J’ly ’ O
G
anhafctan R y consol 4 s.1990 H-\J 100% ..
104 Apr’05
Registered................. 1990 a
g 2 102% 106%
Metropol El 1st g 6s___1908 J-J 103% Sale 103% 103 J
M cK ’pt A B V See N Y Cent
Metropolitan El See Man Ry
8 75% 85
76
76 Sale 75%
M ex Cent consol gold 4 s..1911 J-J
18% Sale
18
18% 124 16% 26%
1st consol income g 3s.al939 JTy
15% Sale
14%
16% 70 14
21
2d consol income g 3s..«1939 J’ly
Equip A coll gold 5s.......1919 A-O
G
Coll tr g 4%s 1st Ser---- 1907 F-A ioo ........ 101 J’ly ’O .... 98% 101
90% JTy’01
M exln tern at 1st con g 43.1977 M.Q
105 ~ May’00
Mex North 1st gold 6s---- 1910 .T-D
Mich Cent See N Y Cent
Mid of N J See Erie
M i l L S & W See Chic A N W
Mil A North See Ch M A St J
?
Minn A St L 1st gold 7s.. 1927 .l-T) 134% ........ ] 37 JTie’05
111% Oct ’05
Iow a E x 1st gold 7s.......1909 j .D
G
Pacific E x 1st gold 6 s ... 1921 A-0 118 ........ 117% J’ne’O .... 117% 120%
113 % Mar7
05
South W est E x 1st g 7s.l910 J-D
l&t consol g o ld 5 s ........... 1934 M-N I l l 113 113 JTy ’06 .... 111 114%
94 ........ 94 J’ly ’U .... 90% 97
G
lfet and refund gold 4 s ..1949 M-S
95 ........ 97 Apr’06 97
97%
Des M A Ft D 1st gu 4s. . . ’35 J-J
Minn A St L gu See B C R A N
T. 1 99 . . ... 102% J’ne’06
100% 102%
M S tP A S S M c o n g 4 in t g u ’ 38
103 * Nov’01
M B S M & A 1st g 4 int gu 1926 J-J
Minn Un See St P M AM
99% Sale
99% 100% 19 99% 103
Mo Kan A Tex 1st g 4 s ... 1990 J-L
88% 89
88% JTy ’ 06
85
92%
2d gold 4 s....................... 0x990 F-A
105% 106 J’ne’O . . . . 103% 107%
G
1st ext gold 5s................. 1944 M-N
.... 87% 91%
87% J’ne’O
G
1st A refund 4s............... 2004 M-S
1 86% 89%
86%
86 % Sale 86%
Gen s f 4%s sub reels . . . . ___
88% JTy’06 . . . . 88
94
St L L iv 1st ref g 4s___2001 A-0
Dal A Wa 1st gu g 5s. ..1940 M-N 104% ........ 108 Feb’06 .... 105% 108
.... 93% 96%
96 J’ne’O
G
Kan C A Pac 1st g 4 s ... 1990 F-A ........ 95
113% May’O .... 113% 116
G
Mo K A E 1st gu g 5 s ... 1942 A-0 ........ 113
1 106% 109%
106% 106T
M K A Ok 1st gu 5Sw___1942 M-N ........ 107
G
M K A T o f T 1st g u g 5 s . 1942 M-S 107 ........ 105 J’ne’O .... 105 109%
S h erS h A So 1st gu g 5s. 1943 J-D 101 ........ 108% Apr’06 . . . . 108% 108%
105% Apr’06
105% 109%
T ex& Okla l s t g u g 5 s ... 1943 M-S
Missouri Pacific 3d Ys.......1906 M-N 101% ........ 102% JTy’06 .... 101 104
G
1st consol gold 6s............ 1920 M-N 120% 121% 120% J’ne’O .... 120 125
Trust gold 5s stamped.a 1917 M-S 104% 105% 104% 104 % 1 103% 107%
107% Feb’06 __ 104% 107%
R egistered................. <zl917 M-S
1st coil gold 5s................. 1920 F-A 105 ........ 105 JTy’06 . . . . 103 108%
91
94%
40-year gold loan 4s.......1945 M-S *92% ........ 91% JTy ’06
94
94% 10 94
99
’
Cent Br R y 1st gu g 4 s.1919 I -A . . . . . . 95
Leroy A C V A L 1st g 5s 1926 J-J 100 ........ 110 M.ar’05
Pac R of Mo 1st ex g 4 s .1938 F-A 103 ........ 103 Apr’06 ___ 103 105
G
2d extended gold 5s. ..1938 J-J 115 % 116% 118 J’ne’O .... 116 120%
114% 13 112 117%
St L Ir M A Sgen con g 5sl931 A-0 114% Sale 114
116 Nav’05
Gen con stamp gtd g 5s 1931 A-0
89%
92% 10 89% 94
89% 90
Unified A ref gold 4 s.. 1929 J -j
93
6 92% 96
l-N 93 Sale 93
R iv A G D iv 1st g 4 s..1933 iV
107 % Apr’06 .... 107% 107%
Verdi V X A W 1st g 5s. 1926 M-S
Mob A Blrm prior lien g 5s 1945 J-J 110 . . . . . . 115% Apr ’ 06 . . . . 113 115%
96 Oct ’05
M ortgage gold 4s............ 1945 J-J
96 Apr’06 •- •• 94% 97
Mob J A K C 1st cons g 5s. 1953 J-J
126 127
Mob A Ohio new gold 6s.. 1927 J-D 124 ____ 126 M.ay’06
122 L ec’05
1st extension gold 6s..7il927 Q-J
General gold 4s............... 1938 M-S ................ 95 JTy’06 - «•« 94% 99
Montgom L iv 1st g 5s.. 1947 F-A *113 ........ 114% JTy’06 «oo• 113 *2 114%
G
98
St L A Cairo coll g 4s..el930 Q-F ........ 94% 98% J’ne’O .... 95
Guaranteed g 4s.......... 1931 J-J
97 % ........ 101 Nov’04
M A O coll 4s See Southern
Mohawk A Mai See N Y C A H
..................
Monongahela R iv See B A O
Mont Cent See St P M A M
Morgan’ s La A T See S P Co
Morris A Essex tfe e D e lL A W
G
ash Chat A St L 1st 7 s.1913 J-J 116 . . . . . . 119 May’O
115 % 119%
G
1st consol gold 5s........ 1928 A-0 113% ........ 113% J’ne’O .... 112 115%
Jasper Branch 1st g 6s.. 1923 J-J 114 . . . . . . 119% Feb’06 - ••• 119% 119%
McM M W A A 1 1st 6s.. 1917 J-J n o ...... 117% Mar’05
T A P Branch 1st 6 s .... 1917 J-J 110 ........ 113 JTy’04
Nash Flor A Shef See L A N
Nat of M ex prior lien 4 %s. 19 2 6 J-J 101 . . . . . . 105 Apr’06
102% 105
84% 25 83
84 . . . . . . 84%
1st oonsol 4 s . . . , ..............1951 A-O
87%
New H A L See N Y N f i & H
N J June R R See N Y Cent
New A Cin Bdge See Penn Co
N O A N E prior lien g 6s #1915 A-0
N Y BkJLn A Man Bell See L I
96
N Y Cent A H R iv g 3 %s. 1997 J-J
91 95% 99%
95
95% 95%
Registered.................... 1997 J-J
94% J’ly ’O
G
94% 98%
Leben g 4s......................1934 M-N ........ 101
100
100 % 12 98 k 102
Lake Shore co llg 3 % s...l9 9 8 F-A 8S% 90
89%
89% 12 88
93
Registered.................... 1998 F-A
87% 89
88 JTy’06
87% 91%
Mich Cent coll g 3%s___ 1998 F-A
89% 90
89% J'Ty ’06
88% 92%
R egister ed.................... 1998 F-A ........ 88
88% J’ne’O
G
86% 90%
Beech Creek 1st g u g 4 s .l9 3 6 J-J 102% ........ 102 JTy’06
102 105%
Registered.................... 1936 J-J
102 Mar’04
2d gu gold 5s............... 1936 J-J 103% ........
Beech Cr E xt 1st g 3 % s51951 A-0
Cart A A d 1st gu g 4 s ... 1981 J-D ........ 103%
Cleari Bit Coal 1st s f 4s. 1940 J-J
95 Apr’02
Gouv A O s w e ls tg u g 5 s 1942 J-L
Moh A Mai 1st gu g 4s.. 1991 M-S ........ 107% 105 N ov’()5
N J June R gu 1st 4s. ..1986 F-A
105 Oct ’02
N Y A P u ls t c o n g u g 4 s 19
A-O
104% Feb’06 — 104 % 104%

M

N

BONDS
N. Y. STOCK EXCH AN GE
W eek ending J uly 27

JaVst
Period

New York Bond Record— Continued— Page
ig e

200

3
Price
Friday
July 27

[ V © L . L IX X III

Week* 8
Range or
Last Sale

Range
Since
January 1

High. No Low High.
Bid
A8k Low
N Y Cent A H It—( Continued)
Nor A Mont l s tg u g 58.1916 A-0
W est Shore 1st 4s g u ...2361 J-J 105 % Saie 105 % 105 % 9 105 109
103% 107%
Registered.................... 2361 J-J 1<)3% 104 % 103% J 'l y ’ 06
97% ' " i 96% 100%
97% Sale 97
Lake Shore gold 3%s___ 1997 J-D
98 l4 99%
96% May’06
Registered................. 1997 J-L
99% 99*4 99%
99% i o 96 % 101%
Debenture g 4s........... 1928 M - S
101% 101%
101% F eb ’06
L et Mon A Tol 1st 7s. 1906 F-A
Ka A A G R 1st gu c 5s. 1938 T. .1
122% 125%
i25% Mar’06
Mahon Q’l R R 1st 5a..1934 J-J
l
Pitts M cK A Y 1st gu 6 s. 1932 T . ~ 127 ........ 139 J a n ’ 03
2d guar 6 s......................1934 .T- .1 *125
M cKees A B V 1st g 6 s 1918 T. .1 109
107% 107%
G
Mich Cent 1st consol 6s. 1909 M - S 106 ........ 107% J’ ne’O
118% 120
5s.
.1931 M-S 117 ........ 118% J’l y ’06
Registered.
.1931 ('k-M 115 119% 119 J’ ne’ 05
104% 104%
4s.
,1940 J-J 102 ........ 104% Mar’ 06
106%Nov’ 00
1940 .f . T
Registered........
J L A S 1st g 3% s..
1951 M - S
97 J’l y ’06 . . . . 96% 98%
1st g 3 % s ................
1952 M -N ....... 97
Bat C A Star ls t g u g 3 s . 1989 j _ n
101 % 101 %
101% J’l y ’06
N Y A Harlem g 3%s...200O M -N
Registered................... 2000 M -N
119 % Mar’ 05
N Y A North 1st g 5 s ... 1927 A-O 112
113 % 118
R W A O con Istext5s.7il922 A -0 113 *4........ 114 J ’ly ’ 06
113% J a n ’ 02
Oswe A R 2d gu g 5s...el915 F-A
R W A O T R 1st gu g 58.1918 M -N
2 104 104
104
Utica A Blk R iv g u g 4 s . 1922 J-J 104 ........ 104
3 103% 106
4
N Y Chic A St L 1st g 4s. 1937 A-O 104 3 ........ 104% 104%
Registered...................... 1937 A-O 103% ......... 103 Oct ’05
N Y A Greenw Lake See Erie
N Y A Har See N Y C A Hud
N Y Lack A W See L L A W
N Y L E A W See Erie
N Y A Long Br See Cent of N J
New York New Hav A Hart—
124 125
Housatonic R con g 5s.. 1937 M -N 118 ......... 124 F eb ’06
N H A Derby con cy 5s.l913 W
l-N
N Y A North See N Y C A H
1 100% 104%
101
N Y O A W ref 1st g 4 s ..01992 M-S 100% ......... 101
L01 ' 101%
101% J’ ne’06
Regis 35,000 only........ 01992 M - S
N Y A Put See N Y C A H
N Y A R B See Long Island
N Y S A W See Erie
N Y Tex A M See So Pac Co
107%111
Nor A South 1st g 5 s ........ 1941 M -N 102% ......... 110 May’ 06
131% J ’l y ’ 06 . . . . 131% 132%
N orf A West gen g 6s.......1931 M -N * ......... 131
L30% 130%
Improvem’ t A ext g 6s.. 1934 F-A 131% ......... 130% F e b ’ 06
129% N ov’05
N ew River 1st g 6s.......1932 A-0 131%
N A W Ry 1st con g 4s. 1996 A-O 100% iuo% 100 " 100% 17 99% 103
100 100
100 F eb ’ 06
Registered.................... 1996 A-O
99 J’ne’ O
G
97
99%
5>ivT l s t l A gen g 4 s ... 1944 J-J
25 91
92%
93
95%
92
93
Pocali G A C joint 4 s.. 1941 J-D
109% F eb’ 05
C O A T 1st gu g 5s........ 1922 J-J
997g 101 J ’l y ’ 06 . . . . 99% 103
Scio V A N E 1st gu g 4s 1989 M-N
North Illinois See Chi A N
North Ohio See L Erie A W
Nor Pac—Prior lien g 4 s.. 1997 Q J 103% Sale 103% 104% 94 102% 106%
6 102% 106
Registered.................... 1997 Q-J 103% _____ 103% 103%
78%
76% 17 75
76
76% 76%
General lien gold 3s___a2047 Q-F
74% 76
74 ........ 76 J’ne’06
R egistered................. a2047 Q-F
98 101
9 8 % ......... 98 J ’l y ’06
St Paul-Lul L iv g 4s___1996 J-D
Registered.................... 1996 J-D
C B A Q coll tr 4s 8
124 125
St P A N P gen g 6s___1923 F-A 124% ......... 124% May’06
132 J’l y ’99
Registered certified.. 1923 Q-F
113 115
St Paul A L ul 1st 5s___1931 F-A 113 ......... 113 Mar’06
109% 110
2d 5 s ..............................1917 A-O 107 ......... 109% Mar'06
100 100
9 8 % ......... 100 J ’ly ’ 06
J -L
1st consol gold4s.
93 May’ 0 o
91
93
Q-M
115 n e %
J - J 113% . . . . . . 116 May’06
Nor R y Cai See So Pac
Nor Wis See C St P M A O
Nor A Mont See N Y Cent
Ind A W See C C C A 8
116 116
hio River R R 1st g 5s. 1
1
J-D 1 13% ......... 116 May’06
110% 114%
General gold 5s...............1937 A-0 109 111% 114% J a n ’06
#Ore A Cal See So Pac Co
Ore R R A N av See Un Pac
Ore Short Line See Un Pac
Oswego A Rome See N Y C
O C E A St P See C A N W
98% J’ne’06
98% 100%
Oz’rk A Cher C ls tg u 5 s g.1913 A-O
110 114
ac Coast Co 1st g 5s___1946 J-L i i o ........ 110 J ’l y ’ 06
ac of Missouri See Mo Pac
L03 107
Panama 1st s fund g 4 %s.. 1917 A-O 103% ........ 103 J’l y ’ 06
102 A p r’02
Sink fund subsidy g 6 s .. 1910 M-N
106 108%
106%
Penn Co—Guar 1st g 4% s.l921 J-J ........ 107% 106
X 105 105
1
105
Registered................... 1921 J-J 105 Sale 105
90% 90%
8 9 % ........ 90% J’ne’06
Guar 3%s coll trust reg.1937 M-S
1 90
92%
90 -•
90
90 Sale
Guar 3 %s coll tr ser B ...1941 F-A
6 96
98
96
96%
96% 97
Tr Co certif’ s gu g 3^8.1916 M-N
117% 122
C St L A P 1st con g 5 s.1932 A-O *........ 117% 117% J’l y ’ 06
Registered................... 1932 A-O
108% Aug’ 03
J -J i i i %
4.-0
Series B ........
98% L e c ’ 05
M-N
Series C 3^s.
96 J a n ’04
F-A
Series L 3%s.
96% Jan ’ 06
96% 96%
J-J
98% A p r’ 04
J-J
Series C.
100% ..
A-O *108% ...... 110 J ’l y ’ c6 . . . . 109% 112%
IU9 % 112 %
A-0 *108% ........ 110 J’ne’06
Series B guar___
112% J ’ne’ 05
M-N
Series C guar_
_
99
99
M-N *98% ........ 99 J ’ne’ 06
Series L 4s guar.
92% 94%
F-A
91 ........ 92% Mar’ 06
Senes E 3 ^ guai
Series E 4s guar
195c J-D
127% Oct ’ 02
J-J
118 119
119 ~ J’ne’O
G
J-J
2d7s.......................
119 A p r’ 04
A-0
3d 7s......................
2 104% 106 %
M-N ........ 104% 104% 104%
Penn R R 1st real est
111% Sep ’04
M-S
106 Ang’03
rvi-N
Consol gold 4s.
J-L
93%
94% 35 92% 101
94% Sale
Convertible g c
97 572 95% 105%
M'N
97% 97% 97
Convertible g c
104% Oct ’05
>
71-S
A lleg Val gen ^
110 J a n ’ 05
itf-N
F-A
L R R R A Bge 1st gu 4s g
107% May’06 — i07% 108%
G-r R A I ex 1st gu g4% s 1941 J-J

O

P

M ISC E LLA N E O U S BONDS—Continued on N ext P a g e
C oal and Iron
Col F A I Co gen s f g 5s.. 1943
Convertible deb g 5s___1911
Col C A I L ev gu 5s g._ 1909
Col Fuel Co gen gold 6s. 1919
Gr Riv Coal A G 1st g 6sl919
Col Indus 1st conv 5s gu A. 19 34
1st g A coil 5s gu Ser B.1934
Contin’ talC I s t s f gu 5sg’.1952
J elf A Clear C A I 1st g 5s. 1926
2d gold 5s......................... 1926
K a n A H C A C 1st s f g5s.l951
Pleas Val Coal 1st g s f 5s. 1928
Tenn Coal gen 5s..............1951
Penn L iv 1st g 6 s .......a-1917
Birin L iv 1st consol 6 s .. 1917
Cali C M Co 1st gu g 6s. 1922
L eB a r C A I Co gu g 6s. 1910
V Iron Coal A Co 1st g 5s. 1949

F-A 100 102 102% J’ne’O
G
F-A *78 ........ 88
88
J -J
M-N 102 ........ i07% Oct ’ 04
A -0
102% A p r’06
F-A
76% Sale 76
77
F-A
1 6 % Sale
76%
76%
F-A
107% D ec ’ 04
J-L
107 May’ 97
J-D
102% Oct ’ 03
J -J ........ 105
105% Oct ’05
J -J
105 Oct ’ 00
J-J ........ 97% 97% J T y ’ 06
A -0 107% 109 109 J’ne’O
G
J-J 106 108 106% JT y ’06
J-D
102 L e e '03
F-A 101 ........ 103% F eb’ 06
M-S
96 ____ 96%
96 T
*N o price Friday; latest bid andasked. aL ue Jan b Due Feb

T e leg ra p h and Telephone
Am Telep A Tel coLL tr 4s 1929
Comm Cable Co 1st g 4 s ..2397
Met T A T 1st s f g 5s.......1918
N Y A N J Tel gen g o s ..1920
102 % 102 % West Union col tr cur 5 s.1938
93 71% 8 8 %
Fd and real est g 4 % s...l9 5 0
.
Mut Un Tel s fund 6s ... 1911
16 73
83%
Northw Tel g u i l ^ s g ..l9 3 4
100
1
*5 87

105
102%

90% J T y ’ 06 .... 90% 95%
J-J
96% 98
Q-J
9 5 % ........ 96% J'ne’ 06
109% May’ 05
M-N
105% JT y’ 03
<3
V -N
3 105%109 %
J-J 105% ........ 105% 105 T
M-N 103% Sale 103% 103% 35 102 105
106% 107
106% Mar’ 06
M-N 10 i%
1 :4 J ’ lvTU
0
J-J

Manufacturing A; Industrial
96 J’ne’ OG
Am Cot Oil ext 4%s.........1915 Q-F ...... 96
90%
91
91 Sale
97% 101% Am Hide A L 1st s £g 6 s ,.1919 M- S
88
89
L05 110 % Amer Ice Seeur deb g 6 s .. 1925 A-0 ........ 90
103 JT y’ 06
Am Spirits M fg 1st g 6 s , . 1915 M-S ........ 103
L06% 111
88%
8 8 % ........ 8 8 %
Am Thread 1st col tr4 s,..1 9 1 9 J-J
113%
103 % 103% Am Tobacco 40-yr g 6 s___ 1944 A-O 113 Sale 112
77%
78%
78% Sale
1 91% 98%
4 s ...................................,..1951 F-A
c L ue Mar cl Due Apr h Due j My .j Due Mug o Due Oct o D ue Nov $ Due Leo

si

15

7
70
9i

94% 9S
90 1 0 0 %
88 % 93%
99 104
88 % 9 i %

no m %
17

84
Sale
s Option

New York Bond Record—Concluded— Page

J u l y 28 1906.]
B U M id
N. Y. STOCK EXC H A N G E
W eek kndlnu J uly *27

5.

Penn KH—( C o n t i n u e d )
Phila Bal tfc W
g 4 s.. 1 94 3 M-N
Son a >Lewis 1st g 4 a ...1936 J - J
UN J ivR d Can gen 4a. 1944 M- S
b
Pensacola ife Atl See L < Nas
&
Peo ife East S e e C O O & St L
Poo •* Pek Un 1st g 6s— 19*21 Q- F
2i» told 4%s.................... M921 M-N
Pere Marq—Clitfo W M 5a 1921 J -C
Hint t s P M g 6 s..............1920] A-O
V
1st consol gold 5s.......1939 M-N
Pt Huron Div 1st g 5 8 .1 9 3 9 A-0
*
SagTus H 1st gu g 4 s.1931 F-A
PhiL B A W
Penn KK
Pliila A Reading cons 7 s.1911 J-D
Pine Creek reg guar 6 s ...1932 J -D
Puts Oin A St L See Penn Co
Pitts Clove & Tol s e e B & O
Pitts Ft W A Cli S e e Penn Co
Pitta Juno 1st gold 6 s....... 192*2 J-J
Pitts A L Erie 2d g 5 s ...a l9 2 8 A -0
Pitts .McKees < Y S e e N Yr Cen
&
Pitts Sh A L E 1st g 5 s ...1940 A-O
1st consol gold 5s............ 1943 J-J
Pitts A West s e e B & O
Pitts Y a; Asli 1st con 5s.1927 M-N
>ending Co gen g 4s....... 1997 J-J
l Registered..................... 1997 J-J
Jersey Cent coll g 4s. ..1951 A 0
Rensselaer *\> Bar S e e 1> A H
Rich A Dan S e e South Ry
Ricli A Meek S e e Southern
Rio Hr West S e e Hen A Rio Gr
Rio Gr J uno 1st gu g 5 s ...1939 J-D
Rio gr So 1st gold 4s.........1940 J-J
g uuran teed.......................1940 J-J
Rocli 6c Pitts S e e B R A P
Rome Wat A Og S e e N Y Cent
Rutland 1st con g 4%s___ 1941 J-J
OgtfcL Cliam 1st gu 4$ g. 194 S J-J
Rut-Canad 1st gu g 4 s ... 1941 J-J
Oag Tns A H s e e Pere Maro
C?t^o 6c Gr 1st 1st g 4 s ...194 J-J
bt Haw 6c Adiron 1st g 5s. 1996 J-J
A-O
gold >........................ StH cc Cairo S e e Mob 6c Ohio
St L < Iron Mount S e e M P
fc
bt H K C 6c N s e e Wabash
S t L M B r jb e T E K A u f StL
’e
St L A b Fran 2d g 6 s Cl B 1906 M-N
2d gold 6 s Class C.......... 1906 M-N
General gold 6 s................ 1931 J-J
General gold 5s................ 1931 J-J
St H 6c b F RR cons g 4 s ..’96 J-J
Soutliw Div 1st g 5 s ..1947 A-O
Refunding g 4s............1951 J-J
5-year gold notes 4% ..1908 J-D
K C Ft S 6c M cong 6 s ..1928 M-N
K C Ft S 6c M By ret g 4s 1936 A-O
K O 6c M R 6c B 1st gu 58.1929 A-O
St Louis bo S e e Illinois Cent
8 t L S W 1st g 4s bd ctis.l9S9 M-N
2d g 4s ino bond ctts...pl9S9 J-J
Consol gold 4s..................1932 J-D
Gray’s Pt Ter 1st gug 5s 1947 J-D
St Paul 6c Dui S e e Nor Paoide
St Paul M A Man 2d 6 s ...1909 A-O
let consol gold 6 s.............1933 J-J
Registered..................... 1933 J-J
Reduced to gold 4 % s ..1933
Registered................. 1933 i : i
Dakota ext gold 6 s.........1910 M-N
Mont ext 1st gold 4s___ 1937 J-D
Registered.................... 1937 J-D
E Minn 1st div 1st g 5s. .1906 A-O
Nor Div 1st gold 4s___ 1948 A-O
Minn Union 1st g 6 s___1922 J-J
Mont C 1st gu g 6 s.........1937 J-J
Registered....................1937 J-J
1st guar gold 5s.......... 1937 J-J
Will A S F let gold 5 s ..1938 J-D
St P 6c Nor Pao S e e Nor Pac
StP A S ’xCity & ^ C S tP M & 0
8 Fe Pres 6c Ph 1st g 5 s ...1942 M-S
8 A 6 A P S e e bo Pac Co
c
8 F & N P 1st sink I g 5 s.1919 J-J
bav F 6c West S e e Ati Coast L
Scioto Val 6c N E S e e Nor 6c W
Seaboard Air Line g 4s ...19 50 A-0
Coll tr refund g 5 s .........1911 M-N
AU-Binn 3 0 y rls t g 4s.el933 M-S
Car Cent 1st con g 4s. ..1949 J-J
Fla Cen 6c Pen 1st g 5 s.1918 J-J
1st land gr ext g os ...19 30 J-J
Consol gold 5-s.............. 1943 J-J
Ga 6c Ala Ry 1st con 5s ol945 J-J
Ga Car 6c No 1st gug 5s 1929 J-J
Seab 6c Roa 1st 5s.............. 1926 J-J
tiller Shr 6c So S e e M K 6c T
till bp Oca 6c G S e e Atl Coast L
Sod Bay 6c bo 1st g 5s....... 1924 J-J
8 o Car 6c Ga S e e Southern
Bo Pac Co—RR 1st ref 4 s .1955 J-J
Gold 4 s (Cent Pac coil).A:1949 J-D
Registered..................&1949 J-D
A. & N W 1st gu g 5s___1941 J-J
Cent Pac let ref gu g 4s 1949 F-A
Registered..................... 1949 F-A
Mort guar gold 3%s..A:1929 J-D
Through St L 1st gu 4s ’54 A-0
Gal Har 6c b A 1st g 6 s..1910 F-A
Mex 6c Pac 1st g o s ....1931 M-N
Gila V G & N 1st gug 5s.1924 M-N
Hons E 6c W T 1st g 5 s.1933 M-N
1st guar 5s red.......... 1933 M-N
H & T C l8tg5sin tgu ._1937 J-J
Consol g 6s int guar...1912 A-O
Gen gold 4s int guar.. 1921 A-O
Waco A N W div 1st g 6 s ’30 M-N

t

P r ice
R Y id a v
J u l y 27
P it i

W ee ft s
R an ge or
L a s t S a le

ASA L o w

I
i5 o
>

H i oh

No

La nge
S in ce
J an u ary

7,

L ow

H ig h ,

110% Feb’06 . . . . 109

107

110%

110 H Sep ’04
i
123*8 Jan ’05
lOOAi Deo’05
109 Apr’02
11 -.' H A pr’U
i
O
113*<
107*.] 107 J’ly *06
110 Apr'06

110

112*2 118

107

115*2 115*2

120 Oct ’01
......... 112*2 Dec’02
Mar’06
J ’l y ’97

118

99

116 May’05
99*4 100
100*2 J’ne’O
G
98 H
i
98*4 16

75

100

110*2

no niHi

115*2 Mar’06
137 Nov’97

98
iis” i’19%120

109
76

Sale

89

104%

120

99% 102%
99 H 100*2
2
97*2 101*2

Mar*05
Dec’05
Jan’05

106% Oct ’05
98*2 J’ne’O
G
101 *4 Nov’01

94
90
92
.........124
130 .......

98% 100*2

90
122

90

90
Jan’06

122

94 H
i

122

101 J’ne’06
............
100 % 102%
......... 101*4 ion
100*4 102%
125 1*28 125 J’l y ’06
125 127
110 114
.........111*4 110 J’ly ’06
90
92
95*2 J’l y ’06
95*2 95*2
102*4 Aug’05
62 32
S2*tj
83
82*4 Sale
89
97 May’06
95 .......
95*4 97
1 1 8% ....... 1204 J’ly ’06
120*3121
83 M ____
83
82*4 87'
83*4
101
101

94*4 Sale

......

86

77 H Sale
i

94*4
95*8
87 J’ne’ 06
76
77*2

106*4 A p r ’06
133Hi J :ne’ 06
140 May’02
108*4 109 *4 111*3 J’ne’06
116*$ A p r ’01
8
108% 108*4
101 100*3 100%
103*2 Sep ’05
1 0 i *2 J’ly ’06
101*2
102 H
i
124 May’ 05
131
134*4 J ’ne’ 06
136*4 May’06
116*2 119 Mar’ 06
114*2
121*2 Oct ’ 05

6
17

9434 99%
84
89
76
82

107*8
131

106*4 109*2
133*2 137*2

*i() %

110*4 112*2

109

.......

108 no

112*2 J*an ’06

110

108
100

111

104*4

101*4 101*2
134 136
136*4 136*4
118*3119*2

112*2 112*2

O ct’05

86*4 Sale

86*4
87% 17 86*2 92
.........103
101 103*4
101% J’ly ’06
......... 93Hi 92 H
i
92*2 15 92*2 973s
96 ......... 96*2 Mar’06
96*2 97
107 s®109%
105 Hi___
107*4 J’ly ’06
104 ___
........ 107*2 309 *2 M ar’05
108*2---. 110 *2 May’06
110*2 111 H
i
110 J a n ’05
110 May’ 06
107*4

iio“ iio"

102

•
3

St
--«N

Gpnthern Pao Co— (
Morgan’s La & T

Jan’03

7
94 7
a 95% 183 94*3 9 *2
91*8
917 00 91*8 963b
0
91*2 92
01 *2 May’06
109 H Feb ’06
i
109*2 110
4
102 bale L01% 102
16 99 1023
98 * 98*3
q
98 % May’06
87
2 S6% 89
87
86 %
88
94
95
95 J’ne’06
96
99 7
S
106 106
106 Feb’06
105*4
n o 1113
4
113*2 111*4 J’ne’06
i06 1 8
0 *4
107*2 106*4 106*4
107*4 Feb’05
104*2
103%
1103*2 105*2
103*2 J’ly ’06
109H>11134
109*2 J’l y ’06
109 H
a
111*2 A pr’06 J
111 111*2
109*4
95Hj 99 *4
95*2 J’l y ’06
95*4 93
127 *2 Feb’021
95% Sale
91% Sale
90*2.......

201

P r ic e
tV id a y
J u l y 27
B id

W ee f t t
R a n g e or
L a s t S a le

A ek L ow

|2
50

H ig h , N o

123*8
113*4........ 118 Feb ’ 06
106 Sep’04
113 Jan’01
102 4 Mar’06
86*8 87
86 J’ly ’06
1 U33 ...... 105*3 Mar’ 06
4
105 ......... 107 A pr’06
ltU34 ........ 102 Jan’06
Ill
......... 1133 Feb’06
4
114*a Dec ’04
119 Jan’06
. . . . . . . . . . . . lOS^ J’l y ’05
. . . . . . . . . . . . 1 0 6 34 May’06 . . . .

J-J
J-J
A-O
J-J
J-J
J-J
1 st guar g
» J-J
A-O
A-0
1 st gold 6 s ..................... 191! A-0
1st con guar g 5s.........193' M-N
Stamped....... .1905-193' M-N
PQAAt M ftv 1 at O
’
1Q
1 J-J
J-J
111 U Jail ’ 06
M-S
J-J 104 ......... 110 Apr’06
.]
J-J 116 1 1 0 * 116*8 116% 2 l
Registered.
J-J *116 *s......... 116 J’ly ’ 06
_
M-S . . . . . . . . . . . . 95 J’ly *06 _
J-J 1173, ......... 119 *2 J’ne’06
J-J ......... 97Hi 98*2 J’i r ’06 _
J-J 113*2........ 113 Jan ’06
96 J’no’00
J-J
90*4......... 92 J’ne’O . •«.
G
J-J
A-0
J-J 111*4........ 116 *2 May’05
J-J 113 Hi......... 116 May'UG
M-N 118 ........ U 7 7 118
8
io
M-S 113*2114*8 114*2 J’l y ’06
707 72*4 72*4 J’ly ’ 06
e
A -0
J-J .........121
122*4 J’ne’O
G
1223e Apr’06
J-J
s
J-J l l 2 7 115 112% J’l y ’06
A-0 111 ........ 112% Jan ’06
98 Feb’05
M-N
M-N 107 ......... 107*2 107 H 4
i
M-S 114 ......... 123 Feb’02
M-S 109*s........ 110 Dec’04
Series D 4-5s.
M-S 111*4....... 113 Dec’06
M-N 1 1 0 = 8 ......... 111% May’06
Guar stamped
M-N 1093®......... 109 *2 May’06
95 *4 ......... 97 34 May’05
W O 6c W 1st cy g
F-A
West N C 1st con
J-J I l l ......... lll\ i J’ly ’06 —
S 6c N Ala S e e L 6c
J -j
117 J’ly ’O
O
1 00 Nov’04
J-D
Syra Bing& N Y
A-O 107*8......... 109 May’06
F-A 117 ......... 120 Apr’06
J-J
96 J’ly ’06 ___
St L M Bge Ter gu g 5a.1
A-O 110 ........ 111 J’ne’O
G
Tex 6c N O S e e So Pac Co
J-D 118 119*4 118Ha 118%
4
85
95
Mar
85
85
2
_
J-J 103 ......... 110 Mar’06 _
F-A
106 *2 Nov’04
Tol & O C 1st g 5s
J-J 112 113*2 111% J’ly ’06 . . . .
Western Div le
A-O 110*2 113 111 May’04
General gold 5s.
J-D 104 109 109 May’U
G
A-0
97*4......... 98 J 'ly ’06
89% J’l y ’ 06
J-J * ......... 90
J-J
4
G
88*4......... 893 May’U
50-year gold 4s,
A-0 ......... 8 L
81%
81%
3
J-D ......... 98
99% Nov’05
J-D I 08 ......... 110 J’ne’O
G
vJ 1st refund g 4s........... 1
A-O * ......... 94*2 93 Jan’06
Un Pac RR < 1 gr g 4s ...1947 J-J 103 Sale 1027
fc
e 103% 92
102
102
Registered..................... 1
J-J ........ 102
1
M-N
1st lien g 4 s ..................... 1
148 A pr’00
M-N
146 % A pr’O
G
J-D 100*3 Sale 100 H 1 0 0 % 13
i
F-A 124 124*2 1233
4 124
7
J - J * .........I l 6 3 116% J’ly ’06
e
J-D
94%
95 io i
947s Sale
Registered.
J-D
96 % Dec ’05
Utah 6c Nor Is
J-J 103*2......... 105% Jan’06
J-J 108*8......... 110 J’ne’O —
G
No of Cal 1st gu g 6s___190
Guaranteed gold 5s___193
Ore & Cal 1st guar g 5s. 192

116

*113

BONDS
N. Y. STOCK E XC H A N G E
W eek E nding J uly 27

4

....

Utah Central S e e Rio Gr 1
Utah 6c North S e e Un Pa>
U tica 6c Black R S e e N Y C
/■andalia consol g 4 s ___1955
era Cruz <fcPlst gu 4 *281934
Ver Val Ind 6c W S e e Mo P
Virginia Mid S e e South Ry
Va 6c Southw’t 1st gu 5 s .2003
W abash 1st gold 5s....... 1939
2d gold 5s..................1939
Debenture series A ....... 1939
Series B .......................... 1939
1st lien equip s fd g 5 s ..1921
1st hen 50 yr g term 4s. 1954
Det 6c Oil Ext 1st g 5 s ..1941
Des Moin Div 1st g 4 s .. 1939
Om Div 1st g 3*28 ........... 1941
Tol 6c Ch Div 1st g 4 s ... 1941
St Clias Bridge 1st g 6 s .1908
Wab Pitts Term 1st g 4s. 1954
2d gold 4 s ........................1 9 5 4
Warren S e e Dei Lac 6c West
Wash Cent S e e Nor Pac
Wash O 6c W S e e Southern
West Maryland 1st g 4 s ...1952
Gen 6c cohy g 4 s .............1952
West N Y 6c Pa 1st g 5 s ..1937
Gen gold 3-4s................... 1943
Income 5s.......................*£1943
West No Car S e e South Ry
W Va Cent 6c P 1st g 6 s ..1911
Wheei’g 6c L E 1st g 5s. ..1926
Wheel Div 1st gold 5s.. 1928
Exten 6c Imp gold 5s. ..1930
RR 1st consol 4s..............1949
20-year equip s f 5s ...19 22
Wilkes 6c East S e e Erie
Wil 6c Sioux F See St P M 6c M
Win Cent 50-yr 1st gen 4s. 1949

F-A
J-J

R ang*
S in ce
J an u ary

I

Lo w

H iy K

118

118

Il0 2 % i 0 2 %
86
90
104% 105 %
106% 107
102

102

113

113%

119

119

105

105%

Li 1*4 i l l *4
L10 110
115% 1 19%
116 117%
94% 98%
118 119%
97
99%
113 113
96
93%
92
92
114 *4 116
116 119%
113% 110%
72*4 72*4
121 123
122*4 122%
112% 110
112% 112%

105

108%

114 114%
109% 114%
111*4114%

109
119
96

112
120%
100*6

111

111

118 124
85 102
108% 1 10
111% H 5 %
107
95%
89%
89
80%

109
99%
93%
90
84%

110
93

113*4
93
1 0 2 % 106%
101*4 106%
146% 160*4
146% 149%
99% 102
118*4 126
114% 119
94*4 97%
105 % i0 5%
110

110

102% 105

98 ........ 102% Feb’06
97*4 1 01 101% N’ov’05

J-J
112% A pr’06
108 114
M-N 1147 Sale 114% 114% 37 1 1 2 % 116%
e
F-A 106*2 1063 106% 106%
4
9 104 109
87% 98
J-J ......... 96
97% J’ne’06
J-J
80 *4 Sale
79
80% 483 72% 8 6 %
M-S 1 0 1 * 2 ........ 102 Dec’05
91 ........ 93 Max’06
93
03
J-J
108 110
J-J 109 110 110 J'ne’06
J-J
97 N ov’04
84
86%
A-O ......... 85
85 % May’06
94
M-S
93
95
95%
95%
5 92
A-O
109% Mar’03
J-D
82*3 83 H 83*2
.
83% 10 8 *i% 90%
J-D
3 0 84 Sale
36%
37 4U1 34% 41%

A-O
A-O
J-J
A-0
Nov

8 S%
86
Sale
85%
86
43 84
70%
72 Sale
72
72
7 69
110%118
115 ........ 116% May’06
94% 97%
......... 95*2 95 Muy’06
30
31
30 May’Olj —

J-J
A-O
J-J
F-A
M-S
J-J

1 0 0 * 2 ........ 109 J’ne’06
1 1 2 34 Sale 1 1 2 %
1 12 %

J-J

109

112% Feb’06
111% Aug’05
89%
88*3 89*4 89%
95*2 100 102% Deo’05
90

Sale

69%

109

1 112 114
122 % 112 %

3

00

11

87% 93%

89

96

M ISCELLA N EO U S BON OS—Concluded.
Manufacturing S c Industrial
Cent Leather 20-year g os. 1925 A-O
99% Sale
99%
99% 44 ! 96% 102%
Consol Tobacco 50-yr g 4s. 1951 F-A
7s
78% 20 1 77 % 83%
78*4 79
Registered 4 s.................. 1951 F-A .
I 78% 78%
78% Mar’06
Distil sec Cor conv 1st g 5 s.*27 A-O
90
85% 86
85
86
46i 81
Int Paper Co 1st con g 6s.l91o F-A 1 0 9 % ........ 109% 109% 15i 107% 110%
Consol conv b i g 5s....... 1935 J-J
94 % Sale
94%
94% 16 94 % 100
Int st Pump 10-yr conv. 6 s ’ 13 J-J ........ 103
104% J’ly ’06 — ,101% 104%
Knicker Ice (Chic) 1st g 5s. ' 2 b A-O
97% Oct ’05
Lackaw Steel 1st g 5s___1923 A-0 103 104% 104
102% 108%
104% 30 1
Nat starch MIg Co Ist g 6 a 1920 M-N *......... 90
90 May’U — | 85
G
93%
Nat Starch Co a f deb 5s.. 1925 IJ-J
G
73
77
75 ........ 75 J’i y ’O
Stan Rope 6c T 1st g 6 s ... 1946 F-A
45 Dec’05 . . . .
Income gold 5s................ 1946
1 Y%“ 2%
1% Mar’U —
G
U ti Leath Co s I deb g 6 s .. 1913 M-N 10!J ......... 109^ J’l y ’06 —
107 109%
U S Realty & I conv deb g 5 s ’24 J-J • 92
1( 1 92
92
99%
9 • 92
U s steel Corp 10-60 yr5s.d*63 M-N
08% Sale
97%
08 H >94 95% 100
Registered....... ....A pril 1962 M-N
97%
0*% 1C 05% 100 h
98% Sale
Va-Car Chem coi tr 09 g m 912 A-O
A
98% 101%
99 % 100 100 J’ly *06 -

No price Friday; Latest bid and asked this week. aDueJan

M iscella n eou s
Adams Ex coi tr g 4s.........1948 M-S
AmDk<fcIrupos S e e Cent N J
Am SS Co of W Va g 5s
1920 M-N
B’kl’ u Ferry Co 1st cons g 5s ’48 F-A
Chic Jc 6c St Yard coi g 5s. 1915 J-J
Det M 6c M Id gr incomes.. 1911 A O
Hoboken L 60 1 gold 5 a ...1910 M-N
Mad Sq Garden 1st g o s..1919 M-N
Man Bch II 6c L gen g 4s.. 1940 M-N
Ncwp Ne Ship 6c D S o n *£1990 J-J
N Y Dock 50-yr 1st g 4 s ..1951 F-A
Provident Loan Soc 4*28.1921 M-S
St Joseph Stk Yds 1st 4 *28.1930 J-J
St L Ter Cup pies Stat’n Prop
Co le t g 4*38 6 -2 0 year.. 1917 J -D
s Yuba Wat Co con g 06..1923 J-J
Sp Val Wat Works 1st 08.1906 M -S
C S lied 6c Bef 1st h r g 6a. 1931
J

1 0 3% ......... 103% J’l y ’00 . . . . 102
97% .
......... 47

...................

100%
47
108
70

J’no’02
J’ne’06 —
J’ly ’05
May’U ....
G

50

Feb’02 —

...................

j ’iy ’01
113% J’ly ’00
99
99%

46% 58
70

78

...................
7

95
......... 04% 95
99 May'06
100% Sop ’05

104%

94
00

«8
09
. --

Y r j"

7

b Due Feb t Due May yDueJ’ne ADueJ’ly pDyieNov »Option Sale

95

103

CHICAGO STOCK EXCHANGE— Stock Record—Daily, Weekly and Yearly
6 TOCKS—H 1GHFST A N D LOW EST S A L E PRICES
Saturday
July 21

Monday
July 23

Tuesdag
July 24

Wednesday
July 25

*6
64
*22
24
443 15
4

*6
64
24
*22
4 4 4 454

*6
*22
434

64
24
454

68
884
*26 4
*68
*30
*24
*64
*96
*27 4
*1)7
25

58
88
*27
*67
*30
*24
*64
*95
28
*97
*26

58
88
*27
*67
*30
23 4
*64
95
28
*97
*26

58 4
88
30
70
34
23 4
66
96
28
100
29

584
884
30
70
34
25
66
97
28
100
25

58
88
30
70
34
27
66
96
28
100
29

Thursd ay
July 26

Friday
July 27

’‘'l ^
10
*30

14

104

33

104

1044

104

1044

9 0 4 904
104 1044

103

103

103

103

103

14
*1 4
104 1 0 4
2 9 4 31

14
*14
9 4 104
30
30

103

*90 4
104
*125
1023,

14
14
9 4 1 04
31
31

14
94
304
Last
L a st
8
Last
Last
Last

T7
8

64
74
55
55
1174 J ’l y ’ 06
*130
131
66
66
107
J’l y ’ 06
27
27
39
J’ ne’06
110
J ’l y ’ 06
*564
58
175
May’()6
16
Mar’06
*1
14
64
A p r’ 06
+30
140
52
52
119
120
*107
1084
121
1274
*46
48
52 Q N ov’ 05
80
F eb’ 06
17
J’ ne’04
9
D ec’ 04
46
J’l y ’ 06
14
J ’l y ’ 06
*21
*22
67
674
*1174 118
89 4
J’l y ’ 06
1204 121
54
May’05

Range /or Year
1906
Lowest

Highest

Lowest

Pi-ice
Friday
July 27

114 Jan 20
8 4 Lee
72 Jan 25 60 Jan
129 May 2 9 76 J an
136 Jan 17 125 Feb
66 4 J *lv 24 38 Jan
98 4 Jan
28 Apr 24
40 Feb 6 35 Oct
1 1 3 4 J ’ ne 2 105 Mar
64 Feb 6 50 JTv
i
175 Mav31 14» lo F pV
16 4 Feb 23
1 Mar 6
4 J’ne
7 J a n l6
6 J’ne
165 Feb 15 153 Jan
63 Feb 9 32 Jan
139 Jan 15 125 May
118 Jan 9 95 Apr
147 Feb 7 134 4 Feb
714 J an 23 55 J ’ne
11 Feb
7 9 4 Feb 23 80 Feb 28 63 Feb

London & Cine, Cont.r
Ma unfa r/knrp ' s’ Fuel
it
Do p ref.
National Biscuit.......100
Do pref...............100
National Carbon.......100
Do p ref.............. 100
Page Woven Wire Fenoe
Do pref

10
1,095
390
60

Weekfs
Range or
Last Sale

4-d May 9,2
1 4 May 29
21 ~J’ne2t
62 May 2
1134J an 4
78 Jan 5
115 F e b 21

Ilighesj.

Bid

Ask Low

144
734
110
134
594
105 4

Apr
Apr
Dec
Dec
Sep
Mar

40
1i2
70

Jan
Aug
Oct”

1
7
172
584
143 4
118
145
67
42
75

Jm
Jan
Feb
Lee
Feb
Dec
Aug
Nov
Nov
Oct

47 4 Jan 31 44 4 m ar
2 4 Feb 3
2 Jan
2 4 Oct
23 Mar 7 19 Sep 23 * Oct
71 Feb 6 524 Aug 674 Lee
1184 Feb 5 1104 Aug 120 4 Mar
95 Mar 3 4 l Jan 80 4 Lee
1 2 2 4 Mar 9 110 Jan 120 J’ne
5 Apr
5 4 May

8
8 8 4 J’ly 10 93 4 May 17 99 5 May 1104 Apr
1 0 1 4 Jan 17 109 4 Mar 12 101 ~Dec 114 Jan
LI 5
101

May 16 152 4-.fan 5
May 8 1064 Feb 15

1 4 J ’ne28
2 4 Jan 12
8 4 J ’nezs 174 Jan 20
29 4 J ’ly 23 42 Mar 27
54 Mar 7
3 6 4 Mar 7
294 J ’nelG
7 4 J’ly 14
1 44 Mar 7
85 4 Feb 23
6 Feb 24

64
364
4 44
14 4
154
854
74

46 Jan 165 Dec
8 6 4 Jan 109 4 Nov

1 4 J’ly
8 Aug
23 Feb

2 4 Apr
16 Deo
41 Aug

F eb 26
Mar i
Feb 2t
Mar29
F eb 26
Feb 23
J‘nel6

Chicago Banks and Trust Companies
Range
Since
0^
January 1

High No. Low H igh

NAME

Outstand­ Surplus &
In
ing
Pro fits f
1904
Stock\

Bankers N ationa l....... $ 2 ,000,000 $1,144,584
100,000
$34,163
Calumet N ational........
_ 9 9 4 1 0 0 4 Chicago City................
500,000
120,146
9 9 4 ...J .. 9 9 4 May’ 06 _
102 4 May’ 06
£74,034
1 0 2 4 1 0 3 4 Chicago Savings.......... k 500,000
Commercial N ational.. £ 2 ,000,000 1,945,216
........ 1014 101 Mar’06 — 101 101
103 A p r ’04
Continental N ational.. 4,000,000 2,182,328
_ 55
Cook Co State Savings
50,000
3,258
........ 55
55 J ’ne’ 06 _
55
Corn Exchauge N a t... 3,000,000 4,041,254
104 J a n ’06 .. . . 104 104
24,202
200,000
. . . . . . 1024 102 J’ne’ 06
102 1034 Drexel State................
302,421
600,000
........ 100
964 J an ’ 06 —
964 964 Drover8 Dep National
27,740
Englewood S ta te .......
........ 98
200,000
87 F eb ’ 06 —
500,000
64,825
Eederal National........
87
87
First N ational............. 8 ,000,000 6,454,820
First Nat Englewood..
82 4 11 80
100,000
126,606
90
8 1 4 8 2 4 82
79 N ov’ 04
500,000
641,898
Foreman Bros B ’k’g Co
80 Apr *04 ...
300,751
Fort Dearborn N at___ 1 ,000,000
_
168,074
500.000
103 1U3 4 103 4 J ’l y ’06 _ 103 I o 5 4 Hamilton N ational___
Hibernian B ’k’g A ss’n 1 ,000,000 1,120,353
t 9 1 4 Sale
5 904 95
914
014
200.000
70,525
99 100
99 4 J ’ne'06 __ 99 4100 4 Kaspar State Bank___
250,000
99 100
Milwaukee A v e state.
6 99 100
300,389
994
9 94
2 95 4 100
95 100 . 95 4
200,000
17,297
Monroe N ational........
9^4
16 May’ 05
6S,963
Mutual Bank..............
250,000
92
93
Nat Bank of Republic. 2 ,000,000 1,062,272
y 1 4 J ’ly ’ 06
9 1 4 95
86 J’l y ’ 06
86
87
National Live S tock ... 1 ,000,000 1,310,851
86
89
00 Mar ’06
50,000
5,744
90
90
North Side State Sav..
90 F eb ’ 06 .... 90
Oakland National........
100,000
27,358
90
04,162
Prairie National..........
250.000
924 F eb ’ 06
........ 85
95,755
250.000
9 24 0 2 4 Prairie State................
300,000
210,032
&
9 0 4 Sale 9,04
91
s i 9 04 944 Pullman Loan < Sav..
94 J’l y ’ 06 —
350,000
89 100 4 B a r way Exchange___
52,971
100 4 ........ 100 4 Mar’06
200,000
1 0 0 4 1 0 0 4 South Chicago Savings
801,667
99 4 ........ 9 9 4 J’l y ’ 06
9 9 4 9 9 4 State Bank of Chicago. 1,000,000
100
136,492
Stock Yards Savings ..
250.000
3 99410 0
9 9 4 ........ 100
100 ........ 100 A p r’ 06
Union Bank of Chicago
30,859
100 100
200.000
120 A p r’ 06
34,390
Union Stock Yds State
200,000
120 120
........ 104
1014 1014
Savgs.. 3,000,000 2,349,527
5 L 0141054 Amer Trust
..1 ... 107 ^ 106 J ’ly *06
915,123
Central Trust Co of 111 2,000,000
106 108
G
544,548
t ........ 1074 104 J’ne’O
600,000
104 1054 Colonial Trust & Sav..
*••
103 4 F e b ’ 06
77,253
200,000
103 4 1 0 3 4 Drovers Trust & Sav..
1024102 4 1024 102 4
4 102 105 4 First Trust & Savings 1,000,000 1,278,889
*101*4 102 1014 1014
1 10141 034 Illinois Trust & Sav.. £4,000 000 7,070,510
24,941
........ 1014 1 02 4 J’l y ’06
200,000
1 0 1 4 1 9 5 4 Kenwood Tr & Savings
5,382
114 N ov’ 04
Live Stk Tr & Sav Bk.
200,000
1 66 4 Sale
Merchants’ L ’n&Tr Co 3,000,000 3,899,177
68
664
664
1 65
318,901
750,000
........ 9 2 4 92 J ’l y ’ 06
80 1014 Metropolitan Tr & Sav
__ .T. . . __ 6 8 4 Sep ’ 05
Northern Trust Co Bk 1,500,000 1,652,754
44,936
60 ........ 72 J ’l y ’ 06
200,000
Peoples Trust & S a v ..
60
85
........ 70
70 J ’ne’06
491,640
500,000
55
844 Royal Trust C o ...........
749,367
........ 90
9 0 4 May’06
89 4 95 4 Union Trust Co........... 1,000,000
9 6 4 Jan ’06 —
264,581
9 6 4 964 Western Trust & Sav. 1,000,000
6,593
200,000
W Side Tr & Sav Bk..
200.000
21,139
Woodlawn Tr<fcSav Bk
t be added to all Chicago bo nd price s.
it Dividends are paid Q-J, with extra payments Q-F. UIncludes special dividend of 30 + declared Aug. 10, 1904.
t June 18, ’ 06 for National Banks and June 19, ’ 06 for State institutions. $ A s of Apr. 6, 1906.
* Bid and asked prices; no sales were made on this day. $ No price Friday; latest price this week.
o-Dne .£>ec, .31. b Due June, h Due J uiy. £ Capital and surplus to be increased.

Amer Biscuit 6 s ................1910 F-A
Amer Strawboard 1st 6 s.. 1911 J-J
Cass Ave < F G (St L) os. 1912 J-J
fc
Cine Board of Trade 4s ...1927 J-D
Cine Consol Br & Mlt 6 s .......... J -J
Cine Consol Trac 48as.......1939 J-D
Chic Edison debent 6s___1913 J-J
1st gold 6 s .................... 7il926 A -0
Chic Auditorium 1st 5 s ... 1929 F-A
Cine Dock Co 1st 4s.......... 1929 A -0
Chic No Shore Elec 6s___1912 A -0
Chic & Mil Elee By 6s ....1 9 1 9 J-J
Chic Bneurn Tool 1st 5s .al921 J -J
Chic Bock I Pac BB 4s. 2002 M-N
Coilat Trust g 5s............ 1913 M-S
Commonwealth Elect 5s. 61943 M-S
Illinois Tunnel 5 s ............1928 J-D
Kans City By & Lt Co 5s. 1913 M-N
Kmckerb’cker Ice 1st 5s. 1928 A-O
Bake Street El 1st 5s.......1928 J-J
Income 5 s ........................1925 Feb
Metr W Side El 1st 4s___ 1938 F A
Extension g I s ............... 1938 J-J
North Chic St 1st 6s____ 1906 J-J
1st 5 s ............................... 1909 J-J
Belauding g 48iS.......... 1931 A-0
No Chic City StRy 48as.l927 M-N
North West’n El 1st 4 s ...1911 M-S
Ogden Gas 5 s ___________ 1945 M-N
Pearsons-Talt 5s............... 1916 J-D
4*408....................... ................ M-S
4*60s Series E ........................ M-N
4-80s Series E ........................ M-N
People's Gas L<fc C 1st 6s. 1943 A-0
Refunding g 5 s _______ 1947 M-S
Chic Gas Lt<fc C 1st 5 s ..1937 J-J
Consumers’ Gas 1st 5s..1936 J-D
Mutual Euel Gas 1st 5s. 1947 M-N
South Side Elev 4 4s........ 1924 J-J
Swift & Co let g 5 s.......... 1914 J-J
Union El (Loop) 5s..........1945 A-O
Union Pacific conv 4 s ___1911 M-N
United Box Board 6s.......
>
West Chic St 1st 5s.......... 1928 M-N
Tunnel 1st 5&..__......... ...1909 F-A
Debent 6 s _____________ 1914 J-D
M-N
W est D iv City By 4 82s.. 19 3 2 J-J
W est’rn Stone Co 5-20 5s. 1909 A-O

Range tor P r e io u s
Y ea r(1905)

M iscellaneous
American Can............100 1,185
6 J’ne28
Do p r e f...,-....... 100
880 51 J ’ly 13
Amer Radiator____ 100
115 Feb 9
50 130 M a y ll
Do p r e f.............100
Amer Ship bldg
100
815 54 Jan 13
Do nref
TO
O
101 Jan 11
60 17 Feb28
Amer Straw Board
Booth (A) oc Co
100
36 Jan 23
108 Jan 25
Do pref...............100
Cal & Chic Canal < D100
fc
80 65 May 26
1683fi Mavl8
16 F e b l3
1 Mar 6
31
Chic Brew ’ gJb Malt’g ___
Do pref..........
6 4 Mar23
76 138 J ’ly 26
Chic E d ison ...............100
95 49 May 2
Chic Pneumatic Tool. 100
209 101 Apr 2 7
Chic T eleph on e........ 100
19 103 May 3
Chic Title & T ru st... 100
906 118 J’ ne 6
Diamond Match........ 100
152 44 J’ne26
Illinois Brick............100

150
1044 104 4 Swilt & Co..................100 1,293
135
135 The Quaker Oats Co 100
50
110
Do pref.............. 100
1024 1024
■
.
100
10% D e c’ 04 Union Rag & P Co
Do nref
100
14
14
1 4 Unit’ d Box B d& P ColOO 1,050
10
10
10
Do pref...............100 1,465
375
31
314 Western Stone.......... 100
304
M ining
S a l e 54
Mar’06 Adventure Con............25
36 *2 Mar’06 Allouez..........................25
S a l e 294
J’ne’06 Bmgham Con M ining.50
Biack Mountain..............
8
275
S a l e 15 4
J’ ne’O D aiy-W est....................20
G
F e b ’ 06 No B u tte.__ . . . __ .....1 5
S a l e 85 \
S a l e 74
J ’ne’ 06 Shannon.......................10
9 14
104^
134
1023
,

Chicago Bond Record
T
3
BON DS
5»
CHICAGO STOCK E X C H ’ GE
si
W eek E nding J uly 27

Sales
of the
Week
S%
ares

R ailroad s
L a s t S a le I67^i J’ne’06 Chic City By
100
155 M arl6 200 Jan 5 180 Jan 205 Oct
Clue Pass B y. .
6
6 Chic & Oak Park.......100
*6
64
*6
64
25
6 May 2 7 4 Jan 17
4 J ’ly
7 4 J an
*22
24
L a st S a le 24
JJne’06
Do pref...............100
22 A p r il 2 8 4 Jan 2 16 J ’ly 28 Deo
44
45
44 4 45 4
45 4
46 Chicago 'Subway.......100 2,580 3 9 4 J ’iy 13 69 May 17 40 Oct 874 Aug
|,9fl
T’ nP 1M Fa Ii
lc
L a s t S a le 4
J ’ly ’ 06 Chic Union Tract
100
4 J ’ly 12 12L
L a s t S a le Jo
O P lv 51 Fe b
f\
J’ne’ 06
Do pref
ion
124 May 18
58
58 *........ 574 "57
58 Kans City By
L t .. 100
495 54 4 Jan 2 68 4 Feb 9 30 Jan 60 Sep
88
88
*87 4 884 *874 884
Do pref...............100
350 87 4 J ’ly r 9 3 4 Feb 8 82 4 Jan 93 s Sep
<
*........ 3o
L a s t S a le 28
J ’l y ’ 06 Metropol W S Elev lo o
28 Oc.%
26 Mar 31 30 J’ne 8
* ........ 70
70
7 66 A p r30 72 4 J an 13 5 9 4 Jan 7 3 4 Sep
06 4 704 *664
Do pref............ 100
35
35
38
40 North Chic Street___100
354 37
132 25 Mar 14 85 ' Marl2 55 J ’ly 09 ~ Feb
*24
27
*24
27 Northwestern K iev.. 100
2 4 4 25
207 23 4 J ’l y ‘ 4 28 4 Feb 23 21 May 26 Dec
2
*........ 67
L a s t S a l e 67
J’ne’O
G
Do pref..............100
60 May 23 68 4 Mar 1 60 Mar 68 Oct
*97
99 South Side E lev........ 100
9 7 4 9 778 98
98
740 89 4 Apr 30 99 J’ne 9 90 4 May 100 Aug
23
28
274 38
850 27 May 18 304 Mar 2 27 Aug 30 Sep
*274
284 Streets WStable C L 100
*97 100
99
99
"97
100
10 98 Jan 26 102 J’ n cl5 96 Dec 1034 Mar
Do pref...............100
*25
30
*26
29
30
30 West Chic Street.......100
36 23 Apr 10 60 Feb 19 40 J’ne 72 Feb

4
6*8 6 4
64
7
63
4 63
64
65
e t)°8
64
53
53 4 53 4
53 4
6 3 4 53 4
534 564
538a 534
*117 120 *117 120 *117 120 *117 120
Last Sale
132 132 * 130 134 *130 132 *130 132 v130 132
65 4 66 4
65 4 66
664 654
6 5 4 66
Last Sale
*25
27 *........ 27
-25
27
27
*25
39
*37
39
*38
39
*38
39
Lastsale
*38
*110 112 *110 112 *110 112 *110 112
Last Salt
58
68
58
*56
"56
68
58
*56
58
*56
Last Sale
Last S a le
1
1
-1
-1
*1
14
14
*1
14
14
64
64
*6 4
64
*64
64 L ast Sale
*64
*135 138 *130 140 *130 140 *130 140 r i3 8 138
50
60
50
50
50
50
50
50
*118 119
119 119 *118 119 *118 120 *119 120
*107 1084 *107 108^ 108 108
1084 1084 *107 1084
1194130
11 9 4 iiso
*119 120 *1194 120
11941204
48 4
48
43
*46
48
47
484
47 4 4 7 4 *45
L a s t S al e
li a s i S a l e
LastSale
Last Sale
Last Sale
Last sa le
21
*21
214
21
654 654
66
66
6 5 4 67
67
67
*654 66
*117 118
*1174118
1 1 7 4 H 7 4 *1174118
117 4 11&
*814 88
LastSale
*81Q 88
*814 88
*814 63
120 120 *120 1204
*117 120 *118 120 *119 120
Last s a le
10441044
*128 135
103 103

.STOCKS
CHICAGO STOCK
EXCHANGE

8

8+5

Dividend Record
In Per­ Bast Paid
1905 iod
%
Q-J J’ly ’ 06, 2
8
None J -J J’ly ’06, 5
10
J -J J’ly ’06, 5
Q-J
Q-J
Q-J
Q-J
Q-J
Q-J

J’ly
J’ ly
J’ly
J’ly
J’ly
J’iy
_ •
_
J’ly
Began busin ess Oct
12
||12 Q-J J ’ly
6+4
10
Q-J J’ly
1
P n v ate Ba 1 k
6
6
Q-J J’ly
12
8
6
12
6
8

8

12
8
6
12
6
8

8

’06, 3
*06, 2
’06, 18a
’06, 3
’06, 18a
’06, 2
’ 06 , 14i
16, 1905
’06, 3
’ 06, 28a
’ 06, 18a

J -J J’ly ’06, 4

6

6

J-J
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Q-J
6
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12+3 12+3 Q-J
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6
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J’ly
Aug
Oct
J’ly
J’ly
J’ly
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’06, 3
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2, 1905
’06, 18a
’06, 3
’06, 18a
’06, 3

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8
8

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Q-J
Q-J
R eorg anized Jac
4
5
Q-J
S
6
Q-J
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Began May 1, 19o
N one Q-J
8
7
Q-J
4
58a Q-J
54-5 Q-J
5
6
Q-J
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J’ly
J ’ly
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Began J an 3,
Ineor porate
12
12
6
6
8
8

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5
arch, 1905
J’ly ’06, 3
J’ly ’ 06, 3
J’ly ’06, 2

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Q-J J’ly ’06, 2 8a
Began busin ess Sep 5, 1905
—
— .
Q-J J’ly ’06, 18a

Ju

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TH E CHRONICLE.

2S 1906. J

Volume ol Business at Stock Exchanges
TRANSACTIONS AT T H E N E W YORK STOCK E XC H A N G E
D A IL Y , W E E K L Y A N D Y E A R L Y
S to ck s

W eek e n d in g
J u ly 27
iy o t>

R a ilr o a d Ac
B onds

S ta te
B onds

U S
B onds

S to res

324,922
962.238
608,504
749,871
903,655
1,064,767

$28,497,200
85.236,300
53,771.650
69.174,600
81,407,000
97.299.700

$637,000
1.336.000
1.229.000
1.157.000
1,214,500
1.187.000

$15,000
129.000
67,500

$415,386,450

Saturday............
Monday..............
.Tuesday..............
Wednesday.........
Thursday............
Friday................

P a r v a lu e

$6,760,500

$622,000

Total................

W eek e n d in g J u ly 2 7

S a le s a t
N e w Y o -r k S t o c k
E xch a n ge

1906

1905

$10,000

1 2 0 .0 0 0

140.500
150,000
$ 10,000

J a n u a r y 1 to J u l y

27

1905

1906

149,864,531
162,702.154
2,681,536
4.613.957
3 toe ks—N o. shares
Par vaiue......... $415,386,450 $241,700,500 $14,423,404,050 $13,919,339,975
$524,500
$337,100
$1,800
$6,500
Bank shares, par..
BONDS

$ 10,000

Government bonds
State bonds.........
RR. and mis. bonds

6,760,500

Total bonds-----

$7,392,500

6*2*2.000

$41,000
2,457,800
10,485.000

$1,270,000
49,556,150
375.206,300

$357,900
110,991,350
5*25,727,900

$12,983.8001

$426,032,450

$637,077,150

D A IL Y TR AN SACTIO N S A T T H E BOSTON A N D P H IL A D E L P H IA
EXCHANGES
W eek e n d in g
J u l y 27

1906*

P h ila d e lp h ia

B o sto n
L is te d
s to r e s

U n liste d
s to r e s

B ond
s a les

U n lis te d
s to r e s

B ond
s a les

54.000
14,600
13.000

9,*970
29,501
18,771
18,208
22,459
17,984

3,715
8,551
6,751
7,925
14,770
15,754

$37,687
41,800
8,300
152,500
84.300
68.300

$100,300

116,893

57,466

$392,887

11,694
17,318
15,910
16,659
20,189
32,924

3,887
11,990
8,857
10,203
7,920
13,531

$4,000
13,700

Total.......... 114,694

56,3*88

Saturday .......
M onday........
Tuesday........
Wednesday. .
Thursday.......
Friday...........

L is te d
sh a res

1 ,00 0

Outside Securities
A

W e e k ly R e v ie w

o f O u ts id e M a r k e t w i l l b e f o u n d o n a p r e c e d i n g p a g e .

Street R ailw ays
A sk
B id
Lake St (Chic) El
S e e C hicago list
NEW YORK CITY
< Louisv St 5s 1930..J&J $ 111*2 112*2
Lynn& Bos 1st 5s ’24.J-D $107
32
28
Bleeck St & Ful F stk 100
YNew Orl Rvs 6c Lgt .S e e Stk E x list
92
95
Ylst mort 4s 1950 ..J-J
Y Preferred............... s e e Stk E x list
Y B’y 6c 7th Ave stk ..100 230 240
Y G en M g 41 ’35 S e e Stk E x list
2S
Y2d iuort 5s 1914 ...J-J 102 104
North Chic Street S e e C hicago list
Con 5s 1943 S e e Stock Excli list
98 104
Pub Serv Corp of N J100
B’ way Surf 1st 5s gn 1924 $105 108
67 34 68
Tr ctfs 2% to 695 perpet
YjCentT Cross t’n stk.. 100 300 325
Coll trust 5s gold notes
Ylst M 6s 1922 ...M -N $114 117
96
1909 optional___M-N $ 95
YCenPkN & E K stk .100 195 200
30
North J ersey St Ry 100
YClir’ t’r < 10th St stk 100 170 178
fc
78*2
1 st 4s 1948........ M-N $ 77
Col<fc 9th Ave 5s S e e Stock Excli list
79
78
Cons Trac of N J . . . 100
Dry D E B 6c 3 —
1st 5s 1933.......... J-D $106 107
Ylst gold 5s 1 9 3 2 ...J-D 108 112
New’k Pas Ry 5s ’30J-J $112 113
99 102
YScrip 5s 1 9 1 4 ---- F-A
Rapid Tran St R y ..l0 0 240 250
YEighth Avenue stk. 100 375 400
1st 5s 1921
...A -O $108
YScrip 6 s 1 9 1 4 ___ F-A loo 105
i
25
J C Hob & Patersonl 00
Y42d 6c Gr St F’y stk.. 100 380 400
4
70
4s g 1949............ M-N $ 733 74*2
50
4*2»i bt.M<fe St N A v .,100
So J Gas El 6c Trac 100 120 125
Ylst mort 6 s 1910 .M-S 103 105
70
Gu g 5s 1953.......M-S $100 101
58
Y2 d income 6 s 1915 J-J
N q Hud Co Ry 6s’ 14J-J $109 112
Interboro-Metropolitan—
5s 1928...................J-J $ 10 8 111
Common. S e e Stock Ex cha’ ge list
Ext 5s 1924....... M-N $100 103
Preferred, see Stock Ex cha’ge list
Pat City con 6 s ’ 31. J-D $120
4 *s% bonds. S z e Stock Exch list
2d 6 s ....1914 opt A-O $100
LexA t
Pav F 5s s e e St k Exc list
Metropoi Securities S e e Stk E x list So Side El (Chic) S e e C hicago list
MetrupoL Street Ry S e e Stk E x list Syracuse R.ap Tr 5s 1946 $106*2 10-7 *2
Trent P & H 5s 1943J-D $102 105
180
1 0
N
United Rys of StL —
198 204
47*2 49
Com vot ir c tfs ....... 100
Ylst mort 5s 1909 M-N $ 10 0 103
80 3 81
a
YPreferred............... 100
Consol 5s 1948___ F-A $109 112
Gen 4s 1934___See Stk Exch list
YSixth A v e n u e stock 100 170 174
UmtRysSanFran S’eeStk Excli list
Sou B o u le v 58 1945..J-J $100 104
38 *2 39
Wash Ry 6c El Co. ...1 0 0
So Fer 1st 5s 1 9 1 9 ...A -0 $104 108
86*2 863
Preferred................. 100
4
Third A v e n u e S e e Stock Excli List
86 *2 87
$102
106
4s 1 9 5 1 .................... J-D
26
29
$104 107
YWest Chicago S t ___100
70
$105 106
YCon g 5s 1936___ M-N
380 405
G as Securities
110
$106
NEW YORK
106
Westchest 1st 5s ’43 J -J $105
Cent Un Gas 5s g’27.J&J $ 100*2 102
Con Gas (N Y ) stk. S e e St k Exc b list
BROOKLYN
Conv deb 6 s ctfs S'eeStk Exch list
$100
102
YMutnai G a s..............200 2 0 0 235
Atlan Ave 5s
$ 11 0
N ew Amsterdam Gas—
Con 5s g 19c
98 101
1st consol 5s 19 48..J-J $100 102
B B < W E 5s
fc
227 232
N Y 6c East River Gas—
list
106
1st 5s 1944............... J-J $102
Con os S e e Stock h
105
Consol 5s 1945.........J-J $100
Bkln Crosstn 5s 1908. J-J 100 103
38
105 108
N Y Sc Richmond Gas. 100
Bkn Hgts 1st 5s 1941
Exch list
Nor Un 1st 5s 1927.M-N $100 103
Bkln Q Co<fc Sab S e e
Excli list
YStandard Gas com ..100 115 130
Bklyn F*ap Tran S e e
170
200
225
YPref erred ..............100 l o U
93
96
1st 5s 1930............ M-N 1U5 109
Brk C < N 5s 1939. J-J 110 113
fc
O T H E R C IT IE S
100
3r SUfeN ew 1st 5s ’06 F
117
103
Amer Light 6c Tract. 100 Z ll4
GPpt (feLorimer St 1st
Preferred................. 100 X 98 100
Kings Co. Elevated—
Exch list
*4
let 4s 1949 S e e Sto
Bay State G as..............50
G
i«
65
75
Binghamton Gas 5s 1938 $ 95 100
os 1944.
105 109
Brooklyn Union Gas deb
130
k Exc h list
6 s 1909 conv ’0 7 ...M-S 120
8
6
101
104
Buttalo City Gas stocklOO
N WV
$112
115
1st 5s 1947 S e e Stock Exch list
Consol Gas of N J—
95
OTHER CITIES
1 st 5s 1936............... T-J $ 92
Consumers’ L tL 6c Pow—
Buffalo Street Rv—
1st consol os 1931
J$109 111
Elizabeth Gas Lt Co.. 100 275
>'$lu5
! Essex 6c Hud sou Gas 100 124 128
Deb bs 1917.........
40
46
Chicago City Ky
: hicago list
Fort Wayne 6 s 19 26..J-J
67
00
Gas& El Bergen Co.. 100
LOl 102
110
111
Grand Rapids Gas—
103
i l a list
Colum Ry con 5s
1 1st 5s 1 9 1 5 .......... F-A $101
$103 106
Hudson Co Gas.......... 100 105 107
70
I Ddiana N at 6c 111 Gas—
72
25
30
85
90
1st 6 a 1908............ M-N
Street R ailw ays

B id

A sk

(lias Securities
B id
Ask
73
Indianapolis Gas.........50
99 103
1st g 5s 1952.......... A-O
98 101
Jackson Gas 5s g *37.A -0
40
45
Kansas City Gas.........100
105
YLaclede Gas.............. 100
95 110
Y Preferred .............. 100
43
38
Laray’ eGaslst 6s'24.M-N
34
38
Logdb Wab V 1st 0s’25. J-D
i
Madia* n Gas 6 s 19*26. A-O $103 H 107*2
Newark Gas 6 s 1944.Q-J $133 134
90
91
Newark Consol G as..100
1]Con g 5s 1948.......J-D 110
No Hudson L H & Pow—
5s 1938 ..................... A-O $108
2
5
Y cfc IndCNat J III .100
fO
b
34
29
1st 6 s 1926.............. J-D
68
73
Pat & Pas Gas & EleolOO
104
1 Con g 5s 1949___M-S u p o
1
93
St Joseph Gas os 1937.J-J

2 0 3 75

ImliiNirial anil itlincel
B id
A sk
Consolid Car Heating 100
50
55
YCons Firew’ ks com .100
20
40
YPreferred................ 100
60
70
Cons Ry Ltgcfe Re frig. 100
6*4
6*4
o
Consol Rubber TLre..l0()
1*2
Preferred..................loo
9
12
Debenture 4 k 1951 A<fcO
25
27
Cons Storage Battoryiou
8
11
Corn Prod Hof S e e Stock Exch 1st
Cramps’ Sh<fcKn Bldgloo
18
24
YCrucible Steel.......... lot
114 12*4
YPretenrou................ 101
77 7Q 78 H
i
Cuban 6s of 1896............. 101
104
YDiamond Match Co. 100 119 121
Dominion Copper.........1
31
C 6ie
Douglas Copper.............5 \ 3
6
Electric Boat.............. 100
20
25
60
Preferred..................100
70
10
12
Electric Vehicle.........100
14
17
Preferred..................100
5
7
Empire Steel.............. 100
Telegr & Telephone
42
36
Preferred..................100
92
90
74
80
YAmerTeleg<fc Cable 100
YGeneral Chemical ..100
' [Central & So Amer. 100 145 153
YPreferred................ 100 102 104 4
3
Comrner Un Tel (N Y ).25 119 123
Gold Hill Copper......... 1 f 2?,
78
Emp 6c Bay State Tel 100
Greene Con Copper... 10
204 20c8
47
53
Greene Consol G old... 10 t 2*4
2G
Franklin.......................100
IIGold & Stock.......... 100 119 123
Greene Gold-Silver__ 10 t 1°8
ly
4
90
GuggenlieimExplo’n.lOO *215 230
Hudson River Teleph 100
YN Y*fcN J T elep h ...l00 125 130
Hackensack Water Co —
94
1 Northwestern Teleg. 50 120 125
]
Ref g 4s 52 op 1 2 ...J-J $ 91
80
94 100
85
Hall Signal C o .......... 100
Pacific 6c Atlantic....... 26
20
96 102
*22
Havana Tobacco Co.. 100
YSouthern & Atlantic 25
35
39
Preferred...................100
66
70
1st g 5s June 1 ’2 2 .J-D
Electric Companies
Hecker-Jones-JowT Mill
Chicago Edison Co S e e C hicago lis t
1st 6s 1922.............. M-S 106 L10
20
30
YKingsCo EiLcfeP Co 100 143 149
Her’g-Hall-Mar,new.l00
Narragan (Prov) El Co 50
97 h 103
i
Hoboken Land<fc IrnplOO 200
N Y & Q El LtfePowColOO
50
45
Y5s 1910..................M-N $101
Preferred..................100
70
74
8Hj
60
Houston O il................ 100
37
75
45
U nited Electric of N J100
Preferred..................100
125 135
72
4a 1 9 4 9 ...........
J-D
72 4 Hudson Realty...
874 95
Ingersoll-Rand pret.100
150
InternatTBankingColOO
Ferry Companies
10
10*a
Int’n’l Merc Marine. 100
2 6 4 26 H
a
Preferred..................100
Brooklyn Ferry stocklOO
1*2
2*2
7 6 4 77*4
Col tr deb 4 41922op’07
B & N Y l s t 6 s 1911.J-J $ 97 101
323 337
4
g
65
70
International Salt___100
N Y < E R Ferry stk.100
fc
62
90
68
1st g 5 s 1951___
1st 5s 1922.............M-N
5
International Silver. 100
N Y A Hob con 5s *46.J-D $108 109
50
Preferred..................100
Hob Fy 1st 5s 1946 M-N $109 110
1st 6s 1948................J-D $107
N Y < N J 2d 5s 1946. J-J $105
fc
60
29 *2 35 4 Lackawanna Steel. . . 100
65
10th & 23d Sts Ferry 100
4
88
Lanston Monotype.......20 t 14*4 143
1st mort 5s 1919...J-D $ 80
27
Lawyers Mort Insur.100 186 190
YUnion Ferry stock .100
50
93
9 3 4 YLeh 6c Wilkesb Coal.50
Ylst 5s 1920 ...........M-N
Lord & Taylor.............100 120 130
Railroad
Preferred ................. 100 100 103
Chic Peo & St L pref.100
YLonilard (P')prel ...10U 130 155
72*4 73
2
Deposited stock.............
5
Mackey Companies ..100
7 L 4 72
3
2
5
Preferred..................100
Undeposited stock.
15
25
80 100
Prior lien g 4 H
as’30M& s
Madison Sq Garden..100
75
45
55
Con mtg g 5s 1930. J&J
2d 6s 1919.............. M-N
5
12*2
7
Income 5s 1930.......
YManhatt Beach Co. 100
45
3
Clue Subway................ 100
44
Manhattan Transit___20 t ‘ 3
J4
13
17
YFort Worth 6c Denver
M exN at Construe.pflOO
City stamped.......... 100
Mine Securities.......... 5 f
3ie
H
i
N Y N H 6c HartfordMitchell Mining.......... 10 t 4^2
43
4
Con deb3 H 1956. J& J $110 112
28
Monongahela R Coal..50 \ 8
22
223
4
Preferred.....................50
North’n Securities Stubs 237*2 250
Montcfc Boston Consol .5 f
Penn, gu g 4=H
a% notes
^
*4
99*8 99 4 Mortgage Bond C o... 100 100 102
Nov 1 1907.......... M<fcN
33
Nat Bank .of Cuba___100 106 108
Pitts Bess 6c L E .........50
36
70
73
Preferred.................... 50
National Surety........ 100 135 145
17*2 17*4
Nevada Cons’d Copper
Railroad Securities C o .35
45
Ill. C.stk.tr. ef s.ser. A ’52
90
933 YNew Central Coal___20
4
Seaboard Air Lme—
38
N J Ter Dock 6c Imp. 100
102*2
98 100
N Y Biscuit 6s 1911.M
Colltr5s 1907 op...M -S
SeaboardCo___ S e e Balt Exch list
N Y M tg e & Security. 100 190 200
35
42
YNew York D ock ___100
Va<fc Southwestern.. 100
80
83
YPref erred ...............100
industrial and Miscel
G4
3
N Y Transportation...20 \ 6
80
Alimeek Mining......... 25 t 77
Niles-Bem- Pond com 100 130
2*2
3
Y
’Ontario S ilver....... 100
Alliance Realty.........100 118 125
48
50
7
American Can com ... 100
74 Otis Elevator com ... 100
95 100
54*2 55
Preferred............... 100
Preferred..................100
t*s
Phoenix Securities..
American Chicle Co.. 100 179 184
t 5*
4
Pittsburg Brewing.. .50 f 303 31*4
Preferred..................100 106 n o
Preferred.......... .... . 50 r 5o
50*4
Am Graphopho com.. 100
42*2
Pittsburg Coal S e e Stock Exch list
Preferred................. 100
81
3
4
Pope Manufacturing. 100
Amer Hardware.........100 104 107
05
75
1st preferred.......... 100
Am Ice Securities___S e e Stk E x list
13
17
2d preferred.......... 100
Am Malting 68 1914.J-D 102 102 4
Pratt 6c Whitn p ref..l00 102 107
95 105
Amer Press Assoc’n.100
Realty Assoc (Bklyn) 100 158 165
1
3
Am Soda Foun com.. 100
Royal Bak Powd pref.100 1U6 n o
40
48
1st preferred.............100
10
Safety Car Heat 6c Lt 100 280 290
2d preferred............ 100
t 55
Seneca Mining . . .
Amer Steel Foundries—
91
Singer Mfg Co.............100 520 540
M 6s 1935..............A<fcO $ 89
Southern Steel—
American Surety.........50 185 195
94
Is ts f g5s 1930 opt M-N $ 92
44
American Thread prel..5 \ 3*2
40
Standard Coupler'
46
Am Tobacco (new) com.. 385 400
Prefd.......... s e e Stock Exch list
Preferred..................100 120 130
10
13
4s and 6s......... S e e Stk Exch list Standard Milling Co. 100
35
40
Preferred..................100
38
34
Am Typeto'rs com ... 100
77
79
97
1st 5s 1930 .............M-N
92
Preferred..................100
4
Standard Oil ol’ N J ..100 598 603
Amer Writing Paper. 100
34
Preferred..................100
23 4 2 4 4 Swift 6c Co S e e Boston St k Exc h’ge
85
5s 1919...................... J-J
86
1st 5s 1910-1914....J-J $102 106
40
70
Tennessee Copper....... 25 \ 39
65
YBarney & Sm Car ...1 0 0
80
YTexas<fe Pacific Coal 100
YlPreterred................ 100 140 150
1st 6s 1908.............. A-O $105 LlO
213 25 4
4
YBetlil’m Steel Corp .100
86*4 Title Ins Co of N Y ..1 0 0 180 iyo
YPreferred...............100
19 H
?
Tonapah Min (Nevada).I f 19
96
YColLtr.g.s.tos 1914. J-J
16
20
Bliss Company com___50 140
Trenton Potteries com 100
95 105
Preferred new ___ 100
Preferred___v ......... 50 130 134
45
55
Bond<fc Mtg Guar___100 375 400
Trow Directory uew..l0U
Borden’s Cond M ilk.. 100 165 175
u m o n Copper................ 10 t
l3
*
94
97
Preferred..................100 112 116
Union Typewr com.. 100
1st preferred.............100 120 123
British Uol Copper___
7°fe
t 7*6
2d preferred.............100 121 125
29 * 30
2
Butte Coalition M in.. 15
50
3
United Bk Note Corp..50 \ 46
Casein Co of Am com.. 100
6
53
Preferred ............... 60 f 51
75
Preferred..................100
85
United CigarMfg., pf. 1O0 97*2 9734
Casualty Co of America.. 120 130
62*4 63
United Copper.............100
Celluloid Co..................100 135 140
85 100
12
Preferred..................100
17
Cent Fireworks com. 100
U S. Casualty.............100 200
70
Preferred................... 100
65
20
U S Envelope com... 100
5
Central Foundry.......100
44
89
92
YPreferred................100
20
Preferred..................100
15
US Rub 2d pf S e c Stock Exch list
78
80
Deb 6s 1919 op ’01 M-N
Central Leather........ S e c Stk E x list U S Steel Corporation —
$112 112 H
a
Col tr s 15s '51 opt ’11
Century Realty........ 100 190 200
Col tr a f 5rt ’51 not opt.. $112 11 3
Cnesebrough Mfg Co 100 140 ,480
U S Tit Gu 6c Indem.100 125 130
t
Cliic Pneum Tool. S e e Ch icago IllH
Westchester
Bronx
City Investing Co............ 108 114
YClullin (H B)com___100 108 118 I Title 6c Mort Guar Co. 175 180
WeHtingh A r Bn lk< .5U 1145 .........
Ylst preferred........ 100
96
West Elec 6 M itfc
* 2d :
1...........
96
>
Colo Industrial. S e e Stoclk Ex list | Con a i oh ’ r l Up 12 J-J $ 97 V 97^
SI
f*
a
White Knob M i n .
80
Col 6c Hock Coal&I pf 100
65
2*<l 2 H
i
90 I Preferred.......................
1st g 5s 1917.........J-J $ 84
Col tr 6« Oct 1950..J-J
1014 Worthing Pump pref.100 115 j118

$Bayer paj'8 accr’d lnu fPnoepersh. $Sale price. crEx-righU. zEx-div. iNewetock. YBella on St’k Exch.. but not * reT7 actiTo eocarily.

BOSTON STOCK EXOBANG-E— Stock Record, Daily. Weekly and Yearly
Share Price®—Not Per Centum Prices
S a tu rd a y
J u ly 21

M onday
J u ly 23

T uesday
J u ly 2 4

W ed n esd a y
J u ly 25

T h u rsd a y
J u ly 26

F r id a y
J u ly 27

STOCKS
BOSTON STOCK
EXCHANGE

Sales
or the
Week
Shares

Range 1 or Year
1906
L ow est

Highest

Range lor Previous
Y ea r(1905)
Lowest

Highest

Railroads
fc
91b Atch Top < Santa FelOO 1,051 86b J’ly 12 96 b Jan 13; 7 7b , May
Do pref............... 100
64 98 b J ’ly 3 105 b Jan 3 99 b JaD 105%
100b
Boston
Albany___100
24 242 J’ly 9 257 b Feb 19 2 5 3 Dec 261
54 152 J’nel2 360 Jan 10 152 Nov 1 5 8 b £ pr
152 Boston Elevated.......100
43 238 J’nel2 246b Apr 2 * 2 4 1 May 949 Mar
240 Boston & Lowell.......100
fe
191 166b J’ly 27 180 b Apr 2 170 Dec 185 b ? ar
166b Boston < Maine.......100
L a s t f i o i e \ 7S
Do pref............... 100
170 J’ne 7 175b May 4 171 Jan 175 Apr
J’ly ’06
307 *305 307 *305
8 306 J’ly 24 314b Apr 24 305
Jan 311 g o *
307 Boston & ProvnlencelOO
30
Boston&Wor Elec Co___
56 25 Jan 17 39 b Apr 7 13b, Jan 35 ¥ ar
*27
28V!
Do pref.....................
214 72 b Jan 16 90 Apr 7 63 b Jan 82 b A pr
80 b
* 7 9 " ’ 79“
160
M ar
Chic June Ry < U S Y100
fc
2 158 J’ly 13 182 Jan 12 150 Jan 109
j & r 158”
* ................. 120
120
117^11712 J L is" 118“
Do pref..............100
19 117b J’ly26 127 JaD 16 123 Nov |5 o Feb
188 J’ly 11 190 Mar24 186 Jan 183*4
f)
J’ly ’06 Con & Mont Class 4 .. 1O
f a , t . S a l e 18 8
163 Apr 6 163 Aj>r 0 160 b Jan 167 ? ar
Apr’06 Conntfc Pass Riv pref 100
S a l e {6 3
Last
i e ^ 9 7 ^ Apr’06 Connecticut River...100
297 b Apr 3 298 Apr 2 285 Jan 300
139
......1 3 9
*139 140 *139 140
33 137b J’nel2 145 Jan 30 141 Dec 148 JJar
139
-137b 138b Fitchburg pref..........100
95 Jan 8 107 Apr 27 59 b Jan 99 Oct
J’ly ’06 Ga Ry & Electric___100
L a - * \ S a l e I 02
L a s t g a i e yo ^
Do pref..............100
90 b J’ly 2 95 Jan 2 86 Jan 96
J’ly ’06
197 Mar27 198 Aprl3 175 Jan 192 P ec
J’ne’06 Maine Central............ 100
b ? * 1 S a l t 19 8
19
19
19
*19
IS
)
19
287 17 Jan 5 23 J’ne 8 13 Oct 23 £ P r
*18
20
20 Mass Electric Cos___100
19*8 1934 '19%
69
68b 68b
Do pref..............100
68
69
68b
68
438 59 b Jan 2 75 J’ne 8 55 Nov 7 0 b Mar
68%
68%
68
3 9 . 69
22bM ayl2 25 b Jan 9 19b May 2 5 b P C
2b
" 2 0 b 21^ *20b 21b *19b 20b *19b 20b
May’06 Mexican Central.......100
C
193b 194
194 194
194 194b 194^ 19415 196
243 190 J’ly 11 207 b Jan 27 al92^ Dec •215 b Sep
194 194
196 N Y N H & H art....100
157 May26 163 Feb 7 164 Oct 167b
Last Sale 60
Northern N H .......... 100
J’ne’06
Norwich & W o t preflOO
5 228 J’ly 12 233 b MarlO 232 Jan 233
228 228
203 b 203 b 203 203
203 *201 “ 203
206
20 200 J’ly 18 210 Jan 15 205 b Jan 212 A Pr
•200
201 ' 203” Old Colony................. 100
Last Sale
*53 ........ *53
*63
*53
79 Jan 102
01
Oct ’05 Pere Marquette........ 100
*53 ........ *53
*53
*53
Do pref.............. 100
*53
53
53
8 50 Jan 15 57 Feb 20 5 2 b Dec 87 5 et)
L a s t Sale 1
50 Marl4 64 Jan 4 50 Apr 7 2 *) an
Rutland pref..............100
J’ly ’06
75
*72 . . . .
*73*“ 75
*72”
” 7 5 " 75
15 65 Jan 10 80 Mar 2 50 Jan 67Vj t ng
*76
78 Seattle Electric....... 100
75
100 1 0 0 b 100
101 101 *100 101
Do pref.............. 100
85 95 Jan 10 106 Feb20 93 b Jan 1 02 Sep
100 b 100 b 100b 100
100b
1 4 6 b 148
146*3 147
151 Union Pacific............ 100 3,125 139 b May 2 160b Jan 24 113 Jan lolV i De0
146b 147b 147b 148V 149b 149b .150
91 May 3 99b Jan 2 95 Sep
Do pref.............. 100
*93 b 94*2 *93b 94b *93 b 94b *93b 94b L a s t S a l e ]3
J’ly ’06
Last Sale
175 Jan 11 178 Apr 4 172 Jan 101*8 2 ct
75
May’06 Vermont & Mass___100
180
95
95
95
*94
95
*95
*94
161 94 J’ly 27 101 Jan 2 93 Jan 102 Sep
95*4
94
94 West End St............. 50
95
95
110 n o
*110 1 1 0 b .1 10
110 J’ne2? 116b Apr 9 110 Dec 117V>^-Pr
*110 110*2
Do pref.............. 50
110 110
58
110
Last Sale
25b May 9 25 b May 9 2 1 b Jan 31V, !<*>
May’06 Wisconsin Central... 100
5b
L ast Sale
Do p ref..,..........100
5 5 b Aug 6 n^ Sep
0
Oct ’05
Last Sale
150 Feb 5 150b Feb 16 146 Mar 151 Nov
50
Apr’06 Woic Nash & Roch..l00
Miscellaneous
*22
22b *20b 23
24
*24b 25
*20*3 24
*23
J’ly 32 34 Jan 27 1 9 b Jan 2c,i„A pr
25
2 0 0 21
25 b Amer Agricul Ohem.iOO
92b
92 b 93
Do pref............... 100
93
92 b
93 b
93
93
338 91 May 2 102 Jan 26 86 Jan ggi Sep
93b 93b
93
93
15
15 b
15
15
14b 15b
14b 15
4 b Apr 15 Dec
15b
16b
16b Amer Pnen Serv....... 50 7,245 11 Jan 3 29 Mar 21
14b
35
34
34
S4% 35
Do pref............... 50 1,702 30 Jan 4 46 Apr 2 20 Jan
34b 35
34b 35
36
35
34 b
131b 135%| 133b 134b 134b 136b 136 137
131 131b
136b 137 b Amer Sugar Refin___100 7,865 128 May 2 156b Jan 8 130b May 15 4 ,2 Dee
133 133
133b 134b 134b 134 b 134b 134 b 136 136
Do pref............... 100
134
83 131 May 2 141 Jan 26 132 May 140 82 Ang
136
131b 132 b 132
180 130b 130 131b 130b 131b 131 132
an
132b Amer Telep & Teleg.100 1,385 128 J’ly 10 144b Jan 17 130b Dec 148 JT
34b *33b 33b
34b *34b 34b
35
34b
470 32 J’ne29 47b Jan 24 21 Jan 47 Nov
*34b 3438 S4b
35 Amer Woolen............ 100
102 102b 102 103 b 103 103b 1 0 2 b 103b 103
102 102
Do pref............... 100 1,792 101b J’ly 19 110b Feb 2 92 b J an 109 Mar
103
4b
*4
4b
*4
*4
33 Jan 11 4 b J’ne 7
4
4b L a s t S a l e 4 b
*4
3 b Mar
J’ne’06 Boston Land............. 10
4b
4 b J’ne
*115 115b 115b 115b 115 115b *115 115b 115b 115b Cumberl Telep & Tel 100
116^ 115b
114 115 b JUy 24 118b Marl2 116 Aug 104 J an
L a s t S a l e l ? 14
26 Jan 4 34 Apr 3 17 Jan 28 Dec
*26%
*25b
J’ly ’06 Dominion Iron & St.......
*25b
Last Sale &
8b
9
734 Jan
*8
*8
*7b
5 b Jan 31
9 b A p ril
8b
*8
J’ly ’06 East Boston Land........
5 b J’ly
8b
238 *
236 238
240
D e c 257 Apr
10 236 J’ly 26 250 Jan 13 2 3 9
237b 237b Edison Elec Iliu m ...100
237 b 237 237
General Electric.......100
165* 165b 165 166b
118 161 J’ly 14 180b Jan 9 169 b M a r 191 Jan
57b 57b
57
59 b
59
57b 57^
56
' 59^
59 b Mass’chusettsGasCoslOO 7,927 44 May 3 64b J’nel8 3 8 b J an 51V, f ug
56b
87b 87b
Do pref................100
87 b 87b
87 b 87 b
87
471 84b Mayl7 89 b J’Be 7 80 b JaD «S14 Alay
88b
87b
37 4 8734 - 8 8 b
194 197 *194 b 197 *194 b 197
190 Mar 23 198 Mar 9 4185b J’Be 206 Apr
*194
J’ly ’06 Mergentlialer Lino.. 100
La. f } S a l e 194
*3b 3b
5b
36f
i
1 Feb II 3Vj Dec
3 Jan 2 5 Feb 24
*3b
3b
*3b
3b
4
404
3b
4
3b Mexican Telephone.. 10
131 131b 131 131
130b 130b
131 131
i
139 129 b J’ly 17 141b Apr 6 131 Dec 140 V Apr
132 N E Telephone..........100
I 3 1 ,131 ^132
*
Last g a ie
b * ...
b
1 Feb
1 Janlfi Ibe Jan 15
2 b J an
b ' ..........
Jan ’06 PlantCom t’st stk com100
b
**
■
■
........ 10 *
10
10
Do pref............... 100
10 Jan 17 Jan
Sep ’05
10
L a s t S a l e L?b
221 b 221b 223*° 223
*223T 225
223 233
223 223
223
59 219 J’ly 10 246b Jan 2. 230 May 258 0 c 5
223 Pullman Co................. 100
10
30
9 b Jan 11 10b Apr 3
Reece Button-Hole.. 10
*9b 10
*9b 10
15
*9b 10
8 b Jan 10 b Fet)
10
10
10
*9b
104b ^ °4b 104b 104b 103b 104
IOSVj i ^
104 105
104
127 10 lb J’ne22 108 b Mar 9 100 Dec 114 Jan
104 Swift & Co................. 100
*21b 22
L a s t s a i e 22 b
*21 b 22
22 b Jan 11 23 Feb 13 18 J’ly 23 Jan
*21b 22
*21 b 22
J’ne’06 Torrington Class A .. 25
*26 ........ *26
L a st g a i e 2 6
*26
*26
*25b Mar2 9 26 J’ly 2 25 May 27 Aug
Do pref.............. 25
J’ly ’06
*2b
3
3
3
*2b
2 b May
2 J’nell
*2b
2b Jan 22
*2b
T “ *}S ale 2
'
3
J’ne’06 Union Cop L’d & Mg. 25
*109 109b 109b 109b 109b 109b 109 b n o
>
693 103b May 2 113b Mayl7 103 Apr 115 Fe*
109b 1 1 0 United Fruit.............. 100
kO ^U °
79
79
78b 80
80
78b 78b
79 b 79b
80b Un Shoe Mach Corp. 25 1,188 73 Jan 10 86b Feb 1 57 J’ne 90 Aug
to , 80
32b 32b
30
30
*293 30
4
Do p r e f........... 25
30
30
321 z29b J’ne20 32b J’ly 23 x3 0 7s Dec 3413 Aug
30
30
30
30
487 Feb 19 54b Feb 1 34% Jan 57 Dec
&
L a s t S a le 48 b
Feb’06 U S Rubber............... 100
109 May2 3 113b Jan 13 98% Jan H 7 b Apr
Do pref.............. 100
L a * 1 S a l e 209 b J’ne’06
35b 36b
85b 35b
35 b 36b i 3 ®?4 38 >4 38b
35b 30
39b U S Steel Corp.......... 100 15,538 32b J’ly 2 46 b Jan 20 24 b May 43 Dec
-104 104
102b 102 b 102b 193b 102b 103
104 b 104 b 105b 106b
Do pref.............. 100 2,738 99 J’ne30 113b Feb 1 9 1 M a y 107 Dec
*•50
*•50
; 8 *•50
•65 •55
^
West End Land........ 25
*•60
*•50
50 *40 Jan 26 *55 J’ne22 •40 Mar •67b Jan
*........ 12
L a s t g n l e 12
12
b
12
12 Jan 2 17b Jan 18 11 Dec 227 Feb
12
J’ly ’06 West Telep & Teleg.100
»......... 90 *........ 90
L a s t Sa le 90
90
88 Apr25 98 82 Jan 19 90 Oct 104 Feb
Do pref.............. 100
90
J’ly ’06
80
76
80
*76
* 7 6 " 80
763 J’ly 20 86 Feb 7 82 b Oct 92 Mar
4
L a s t Sa l e ? 6 b
'76
80
J’ly ’06 Westing El & M fg ... 50
91
*....... . 91
L a s t S a ■U 9 0
91
85 May24 98 Jan 11 91 May 100 Oct
Do pref.............. 50
91
J’ne’06
Mining
6
* 5 b ........
*5V» 6
6
Adventure Con.......... 25
*5b
5 Jan 10
*5b
6
12*4 M ay tlOb Oct
8 b Apr
210
5b
6
5b
32
3S
32b 32 b
32
32
18 Apr 49 Oct
82 b 32b
32b 32 b
32b
33b Allouez....................... 25 , 915 31 b J’ly 19 47 Jan
97
98b
98 b *97*8 98
97 b
98
97b 98b
98 b
100b Amalgamated CopperlOO ^0,072 92 b J’ly 13 118 Feb 13 70 Jan 111b Dec
10b|
*8
9 Apr 24 16b Jan
8 J’ne 15b Dec
-f a s t , S a l 1 0
J’ly ’06 Am Zinc Lead & Sm. 25
57b May 2 74 Feb 14 25 b M a y 73 b Dec
J’ly ’06 Anaconda.................. 25
S a l 59
3
2b
2b r
1 M ay
2 b J’ly 13
2b
~ 2 ’b ‘ *3*’
6 Jan
7 Nov
215
2b
2b
2b
2 b Arcadian.................... 25
3
•90
>
b J ’ne 5
1
•45 J’ne
*•90 •95 *•90 •95
2 Jan
3 Nov
£,*»* Sa l e •90
J’ly ’06 A rnold ....................... 25
14b
r
14b
® - - 8 14b
I4bj 141 44 7
* 14 b 14b
14b 14 bl 14
14b Atlantic..................... 25 1,780 10b May28 28b Jan - 12 b May 28 7 OCt
28Vs 28b
• 7b 28 b
2
28
28
29
28
27b 27b
28
30 b Bingham Con Min& S 50 2,055 25 J’ly 13 49 b Feb 14 28 May 37 Dec
•50
•‘45 •50 *•45
b
*•45
*•45 •50 *•45 •50
100 •45 May 29 •75 Marl 5 •50 May •95 Oct
•50 Bonanza (Dev Co)... 10
|4b 24 b
24 b 24 b *24
25 b BostonConCtfcG(rots) £1 1,145 *20% Mar 15 33 b Jan 2
5 b Jan 35 Dec
•2434 25b
25
24 b 24b
24b
31b
30
30b
30 b 30b
31b 31b
31 Butte Coalition........ 15 7,171 25 J’ly 13 31b J’ly 21
29 b 31
30b
110 110
110 111
108 108
no
111
111
110 111
430 107 J’ly 14 120 Apr17
n o Calumet & Ariz........ 10
685 685
685 685
680 680
Hecla___ 25
685
685 685
83 675 May 2 715 Jan 15 601 J’ne 720 DeG
685 Calumet
6 2 l*b 6 8 5
^
22
21b
21
2] b
21b
942 17 b J’ly 13 32 Jan 12 16% Mar 34 b 0ct
21b 22 * 21b 21b
21b
21b Centennial................. 25
21
5b
8b Jan
5b L a s t 8 a le 5 b
5 b Sep
5 b Apr 27
5b
5 b Apr 2 7
Apr’06 Central Oil................. 25
5b
# •60 •55
°
*•60“’ •50
V
50” •50
•60 * •52
Cons Mercur Gold... 5 1,400
b J’ly 7 *70 Jan 22 •30 Mar •75 May
2?
*56
71b
70b
70b
70
70 b
70b 71
7!
70b
“71b "72 b Copper Range Con CoiOO 4,566 66b J’ly 13 86 b Jan 20 64 Jan 85b Dec
17
16
16b 17b
17
17
16b
17 D aly-W est................ 20 3,448 14 MarlO 18 Jan 5 l i b Mar 22 Nov
16b 17b
16b
ra
L 1 7s t, g Vt l e 79b
a
74b May11 84 Feb13 60 Jan 86b Mar
J’ne’06 Dominion Coal.......... 100
118 Apr 30 122 Mar 19 113 Jan 120 Dec
Do pref.............. 100
L a s t S a l e 178
Apr’06
2
Last
* lb
2
2
2 May
4 Oct
-lb
l b J’ly 19
2
2b Jan 12
le 2b
J’ly ’06 Elm River.................. 12
16b 16b
16
16b 1 6 b
16b
16b 16b
8 Apr 20b O
16b
615 14% May 2 21 Feb 7
16b 16 b
ort
16b Franklin..................... 25
Hb
10b 10 b
lib
• li b 12
l i b l lb ♦ lib
9% Jan 17 13b MarlO
5 Jan 10% Dee
11
Hb
12 b Granby Consolidated. 10 2,048
20 b
20b
2 0 b 207*
20b 21
Greene Consolidated. 10 4,385 19b J’ly 12 31b Apr 16 20b j ’ne 32 b Dec
20b 20b
20b 20 b
20 b
21
r
Q
*5
5b
*6
ob
3 Jan
4b Jan 5 7 b Jan 18
5b
5b
5b
635
7 b Apr
5b
ob
5b
6b
5b Guanajuato Consol.. 5
*16% IS
18
*16
16b
*l6b 18
*17
35 15 b J’ly 14 29% Jan 6 17b May 28b Jan
'16b 18
18 Isle Royale (Copper). 25
*7
7b
6b
6b
7
*6 b
6 May 13 b Mar
6b J’ly l4 12b Jan 13
*6b
7b
7
*7
7
310
7b Mass Consol............... 25
Last Sale b
*•45 •55 *•40 •50
**45 •55
•40 J’ne27
l b Jan 4 •70 J’ne l b Oct
J’ne’06 Mayflower.................. 25
13b
13b
12b 12b
12 b 12 b *1 2
12 b 13
12b 12 b
3S0 10b J’ne22 17% Jan 3 10 b Jan 18% Dec
13 Michigan.................... 25
61
61
61b 61b
61
61
61b
62
61
61
61 Mohawk..................... 25 1,146 54b Mar 5 67 J’ne 5 48 May 64 b Dec
2b
*2%
2b
2b
*2 b
*2 b 2b
2b
210 2 J’ly 11 7 b Feb 13 2 J’ly 6b Deo
2b
2b
2 b Montana Coal & Coke 2 5
*17
17 b 17b *17
17 b 17b
17 b
17b
17 b
17b *17
18b Nevada Consolidated 5 2,350 11 Jan 26 20 Apr 18 lObDec 13 Deo
85
85 b
85b
85 b
85
85 b 85 b
North Butte............... 15 5,820 74b Mar 6 95b MaylO 34 Aug 93 Dee
3b
84b 85
88
88b
L a s t $ a l e •70
*•60 •75 *•60 •75
*•60 •75
*'60 •75
*70 J’ly 17
l b Jan 11 •75 May 2% Oot
J’ly ’06 Old Colony................ 25
38b *37
38b
38b 39
38b 38 b
38b 38b
38
*2
39 Old Dominion............ 25 i jo6 33 J’ly 13 47 b Feb 20 23b May 36b Dec
38b
102 103 b 102 102b 103 103
103 b 103b 103b 104 Osceola....................... 26 1,347 93 Mar 7 112 May17 88 Feb 115 Oct
101b 101b
25b 25 b
25 b 25 b
25 b 25 b
26b 25 b
25 b 25 b
527 22b J’ly 11 48 Jan 2 22 J’ne 47 Dee
25 b
25b Parrott (Silv<fc Gopp) 10
*•70
*•60 •70
*•70
*•70
b
5 •60 MaylO l b Jan 4 •50 J’ne 3 b Jan
•75 Phoenix Consol.......... 25
b *•65
84 b
86
84b
85
85 1
84b 84b
S3
85
254 80 J’ly 16 114 Jan 11 95 May 118 “
84b
85 Quincy........................ 25
84b
3b
4
3b
*3b
*3 b 4
*3b
8% Jan 19
4
3b
l b May 8b Oct
3101 3b Ply 16
3b
*3b
4 Rhode Island............. 25
lb
* lb
* lb
l b May
l b J’ly 26
lb
lb
lb
3 Jan
♦lb
2% Jan 16
* lb
200
lb
lb
* lb
l b Santa Fe(Goid<fc Cop) 10
9b
9b
9b
9b
9b
9b
6% Feb
5b Jan 10 10 MaylO
9b
Shannon.......—........... 10 5,655
9b
9 Jan
9b
9b
9b
93
93
*93
*97
94
94
Tamarack.................. 25
93b 93 b
29 90 J’ne 9 122 Jan 21101 May 140 Mar
10b
10
ID
10
*9b
10
9 Apr 28 16b Jan 8
9b 10
2 Feb 16b Oct
*9b 10 b
73
9b
1 0 b Tecumseh.................. 25
L a s t S a l> 4 1
40 May 2 52 Jan 6 24b J’ne 53b Dec
'e
J’ly ’06 Tennessee.................. 25
8
8b
8b
8b
7% Jan 13% Feb
7 b J’nel9 13b Apr 5
8b
8b
87e Trinity........................ 25 4,925
8b
8b
8b
8b
8b
62
61b 32 b
62 b 62%
9 Mar 75 Dec
61b 62
61b 62 b
62 b
62 b
62 b United Copper.......... 100 3,715 57b May 2 78 Feb 7
*90
99
89b 89b
Do pref..............100
10 88 Jan 9 111 Feb21 74 b Nov 88 Dec
9b
*9
9b
*9
9 b j :ne'30 14% Mar30
*9b 10
10
*9b 10
9 b Apr 13% Dec
55
“id ” Unit States Coal & Oil 25
9b
9b
54
54 b 54 b * ........ 54b *53b 54b
54b
55
54b 54b
0 6 b U S Smelt Ref.cfcMin. 50 2,610 51 Mar 5 66 Jan 20
45
45b
45
45
45
45
45
Do pref............... 50 1,169 43 Mar 5 47 b Jan 20
44 b 46b
45b
45 b
45b
54b 55
54
54
64b 54b
54b 54 b
54b
54b
57b Utah Con (Gold)....... 5 4,625 52 b J’ne28 6Gb Jan 12 39% MaT 58% Nov
*6
6b
7
*0
6 J’ly 13
*6b
9 b Marl4 c2 May t7b Oct
*6
6b
6b
3 66
6b
6b
6b
6 b Victoria..................... 25
«
5
5
5
5
17
5
4 J’ly 3 10 Marl9
*4b
7
7 b Dec 15 b Feb
Winona....................... 25 1,649
8
7b
5 ;
188 138
238 138
145 145 *145
145 145
142 142
449 131 Jan 30 51 MarlO 105 Jan 134 Dee
145 b Wolverine ................. 25
♦3.
*3.
3 .,
3,
*3^ 1
1
3*
1
l b J’ ne 2%F*fe
Wyandot..................... 25
1
l b Jan 26
125 •70 J’ly 19
e Before ptsy’to fM x e M ’tse aU ed m 1905 4 B e fo re p«y’t o f as&ese’ta called in 19 * Bid and asked, ft N e w sto ck, f A as'& pauL $ E x -rig h ts . %Jfix-d iv. fr ig h ts

*88 b 88%
100 '4 100‘4
244 244
*152 153
240
170 170
•170
*300 307
27% 27 \
*78
159
* ...
*’
120

*88b 88b
100 b 100 b
244 244
*150 152
239 239
169 169
*170 175
w
308 307
28
28
77
79
* ........ 159

88b 88 b
♦99 b 10Qb
244 244
150 152
239 239
168 169
170
300 306
*27 b 29
*78b 80
159
i i s ” 118

88 b
*99b
*244
152
239
167
*170
♦305
*28b
79b

90
91
88 b
91b
100b ♦1 0 0 b 1 0 1 b 1 0 0 b
244 244 *244
152“* *152 153
152
239 * ........ 239
*238
167 167
168
166b

%

J uly 28 1906.]

205

Boston Bond "Record.

BOISOS
BOSTON STOCK K X C H 'G E
W ksk ending J uly 27

■
a
vo O

Brice
Friday
J u ly 27

Week’ s
Range or
Last Sale

•
«
■ati
Range
^—
>
? 0
Since
* * January 1

Bid
A sk Low
j
High A 0
*4
9g'V
1
J J
98V 98V V V
20
92 Sale
91V
92
J J
Am Telep
J j
y V V May M *
N
O
V S 103 V ........ 10 4 M ar’O .
I
O
A O 101 V 102 1102V If 102 V 20
Atcli T od 6s S Fe .sen
95
94 V J ’ ly MO . . . .
X )V 94
| S
M
> Q
1
Consol 5s.......................... 1024
Boston ct Low ell 4s.......... 1907 J D : : : : : : : : : : : : 104 V A pr MO
lo IV May MO . . . .
4s.........................................1910 J J
Boston Jc Maine 4 H
as.........1941 J J . . . . . . . . . . . . 114 MarM6
112 V Jan M3
Boston Ternuual 1st 3 H 1047 F A
as.
1
1«>8
108
Bur A Mo Riv ex 0s.......... 1918 J J 108 V ..
10*2 Sep ’03
N on-exem pt 0s................ 1918 J J
Sinking mud 4s.............. 1910 J J
99 V ........ 99 V J ’lie 0*J
100 J ’ne’01
Butte A Boston 1st 0s___1917 A 0
Cedar Rap & Mo R 1st 7s. 1910 .V X 122 ........ 129 J ’ neM5
2d 7 s .................................. 1909 J D
111 V J’ ly M5
Cent Verna11st g 4 s..M a y 1920 Q F
89 V J’ ne’O . . . .
O
8SV 90
109 Mav’05
C B & v* Iowa D iv 1st 5s. 1919 A O
Iowa D iv 1st 4 s ............... 1919 A O
DH) V J ’neMO
Debenture 5s....................1913 M
102 V ........ 102 V J ’lV MO
Denver Exten 4s.............1922 F A
99*8 100 V 99 V J ’ ly MO ... ,
Nebraska E xten 4 s ....... 1927 M X 10*2 103 l o 2 7 J ’neMO
fe
99 J ’ly 00 . . . .
B < 8 W s t 4 s..................1921 M s
fc
99 100
Illinois D iv 3 Has.............. 1949 J J
9 0 V ........ 91 J ’ly MO
Joint bonds See Gt N orthern
Chic Jo Ry < Stk Yds 5s .1915 J J 1 0 4 V ........ 104 V J ’l y ’ 06 . . . .
fc
Coll trust retundm g g 4 sl940 A 0
99 ......... 99 v J ’ly MO ....
Ch Mil < St P Dub D Os.. 1920 J J 120 V ........ 122 A p r ’00
fc
Ch M < St P W is V div 6 sl920 J J
fc
120 FeD’05
i
Chic A No M ich 1st gu 5 s .1931 V X
99 101
109 N ov’05
Chic & W Mich gen o s ___1921 J D 102 ........ 102 J’ne’O
O
Concord A Mont cons 4 s.. 1920 J T
>
101V J’ neMO
Conn 6s Pass R 1st g 4 s ... 1943 A 0
112V Jan ’ 03
Current R iver 1st 5s........ 1927 A O
LO
O J ’ neMO
95 J ’ly M6
Det Or Rap 6s N 1st 4 s ... L940 A 0
Y
t
Dominion Coal 1st s 1 5 s ..1940 iV N ........ LOo
100
100
1
Eastern 1st gold Os.............1900 M S 100 ........ 100 V J’neMO
Fitchburg o s ....................... 1908
N
103 V Sep M5
4 s ....................................... 1915
103 V A p r ’05
S
4 s ....................................... 1927 M S
li>2 H M ar’O
j
O
Fremt Elk A M o V 1st Os.. 1933 A O
137 V A pr M6
Unstamped 1st Os.......... 1933 A O
140 AprM5
5
Gt Nor C B & Q coll tr 4 s 1921 J J
97 V
97 V Sai-3 97 V
Registered 4s....................1921 Q J
96V J ’ly MO . . . .

Low High
98 V 10d
90
95
s SV
104 104 V
99V U03 V
93 V 97

io iv io iv
114 114
106

111 V

99

99 7
e

87

90

109 i b i
10*2 v 104
99 100V
97 'i 99 V
91
9 4 l*
104 V 107
97 V 99 V
1*22 124 V
i b i 10 .)
101V.101V
100
95
100
10 Uv

106
97
101
101

102 V 102*0

137

137 V

96V 101 V
9 6 V 101V

BONDS
BOSTON STOCK K X C H ’ GE
W eek E nding J uly 27

-“0-2
j 0

Brico
fiYidav
J u ly 27

—V
(* ->*•
«* .

Week’ s
Range or
Last Sale

Bid
A sk
Illinois Steel debon 5s___1910 J-J 1(K)
N on-convertdebon 5 s ... 1913 A -0 101
A-O
97
98
Kan C Clin A Spr 1st 5 s ... 1925 A O
Kan C Ft S A G ulf 1st 7s.. 190S J -D 103 . . . . . .
Kan C Ft Scott A M Cs___1928 M-N 1 17 V 118
90
98
Kan C M A B gen 4 s .......... 1934 M-S
V- 8
92 V 94
IU 11 WILIC Jv) . . . . . f
U 1
Kan C A M R y A Hr 1st 5sl929 A-O 101 Sale
kail C St Jo A C B 1st 7s. .1907 J -J 100
Maine Cent cons 1st 7 s ... 1912 A-0 . . . . . . . . . . . .
A-O
A -0
70
> ox(Cjin ( Central cons 4s 1911 J -J
1
18
19
1st,cons inn 3 s __..J a n 1989 J ’ ly
"(1 none ino 3s
Jan 1939 J ’ ly
Midi Telep eons 5s tr rec 1929 J-J
II inne t4on K1 con g f»s 1929 J-J
on
97
98
New E ng Cot Yarn 5s___1929 F-A
\'ew E ng Telepli Os . __1900 A-0
Os
.
...................1907 A-0
Os
1908 A-O
5 s .......................................1915 A -0
J
New England cons g 5s. . 1945 • - J
Dos ton Term 1st i s .......1939 A-O .........
Old Colony jrold 4s
. __1924 F-A
Oreg Ry A Nav con g 4 s .. 1940 J-D
Orcg SlI Erne 1st g Os....... 1922 F-A . . . . . . . . . . . .
Repub Valley 1st s f O s... 1919 J -J 10 JV . . . . . .
Rutland 1st con gen 4 Vs 1941
Rutland-Canadian 1st 4sl949 J-J
Savannah Elec 1st cons 5s. 1952 J-J
Seattle E lec 1st g 5 s.........1930 F-A i ’0 3 ii)5
i or re Haute Elec g 5s
1929 J-J
Torrington 1st g 5s_.
1918 M-S
Union Pan R R A 1gT g 4s 1947 J -J
1st lien c/jiiY 4s
1911 M-N
United Fruit conv gen 5s. 1911 M-S 109 V 110
life Steel Corp 1 0-00 yr 5s 1903 M-N
West End Street R y 4s.
1915 F-A 101
Gold 4 V s...........................1914 M-S
Gold debenture 4s...........1916 M-N lu o v
Gold 4 s.............................. 1917 F-A 100 V
d
W estern Teleph A Tel 5s 1932 J-J 100 V .Sale
W isconsin Cent 1st gen 4 sl949 J -J
W isconsin Valley 1st 7 s ..1909 J-J

N ote —B uyer pays accrued interest in addition to tlie purchase prioe tor all Boston Bonds.

January 1

Low
High .Vo
100
1(M
»
10
100 7* i 00 7
g
i
128 V J ’ne'04
US J ’no’ U
O
105 V Mar’ O
O
117 H J’ly’-o
a
90 V J’ly M
O
92 H
a
92 »»
<
101

101

100V J’ly *06
I L5 A p r ’06
101 V Sep ’ 05
118 M n\ *04
1175 V 1175 V
t.
19 V J ’ne’ O
1?V Aug’ 05
75 J'lie’ 03
102 H A ug’ 04
i
98
98
100 V Oct ’05
101 H Feb ’ 00
a
101-V J ’ ue’oG
106V A pr MO

Low H ig h
100 101V
100 101 H
a
98” 100
105 V 100
117V 123V
$6H 99v
a
92 V 94
100 104 V
100 V 102 V
11,
115
75 V *4
19 V 25 V

97

100

L u l v 101v
lu lV l o i v
104 107

1 0 1 V A p r’ 06
1102 V Jan ’05
1121V M ar’06
103 J an ’()
L07V N ovM5
102 M ai ’ 02
98 H May’00
2
105 J ’neY 6
102 Dec M.
100 Jan M6
102 V 102 V
1150 V A p r’ 00
109 J ’ l y ’06
1197 V J ’ly Mb
lu l
100V
103 J ’ly M6
1 0 2 V Jan i>6
101 J ’ly MO
100
] u0 1 U
4
1194 V Sep M5
109 V A ug’ 05

* N o price F rid a y ; latest bid and asked,

R ange
S in ce

o

L o lv lo iV
1121V 1121V
103 103
9<
8 9SV
L05 109
100

lo o

102V1104V
1150 V 155
L07 1 12 V
1 9 1100 '8
10
100 V 102 V
102 \ 103 V
i 0 2 V 102 V
101
102 V
99 V 103 V

Flat price.

Philadelphia and Baltimore Stock Exchanges— Stock Record, Daily, Weekly, Yearly
S h a re P rice s—Not P e r C entum P r ic e s
Saturday
J u ly 21

M onday
J u ly 23

Wednesday
J u ly 25

Tuesday
J u ly 21

Sales
of the
ive Week
Stocks see below)
Shares

Thursday
J u ly 26

L'riday
J uly 27

Baltimore

98

98

86

* 97 V. 100

86

*87

16 V 16 H *16
>
52
52
*3 4 V 34V
11V U V
*8V ------36V 37
-18 V 19
104 104
( <Vl 78V

*97

16 V

87

*97 V100
*27
29
*16

*16

*51V 52V *51V 52
*51V 52V
34
34V 34 V 34 V 34V 34V
11V llh 11
11V l i V
UV

36 V
*18 V
14)3 V
77
IV
63H i663iiie
S3 V
49V 49 v *49
8
7iV e 7iV e
29V 29V
29 V
63
61V 62 V
*40
*46
47
*45 V
63 V
bSV 03V
83
83V 83V

8

8

37
36 V *30
18V 18V
19
104
106 lu6
78 V
76V 77 V
IV
IV
l 5e
641ie 63°ie 63 V
49 V *49
49 V
8
8
bVe
30 V
30
3L
035le
61V 631i0
47
47
*46
47
*45 V 46 V
63 V
63 V 63 V
83
83 V
83 V

P H IL A D E L P H IA

Bid

9
9
*36
37
18V 18 V
109V U O V
76V 78
63 V 6315i0
* 4 9 V 50
8
8
30V 30V
62 V 63 V
*46
47
*45 V 46 V
63 V 63 V
S3V 83 V

A sk

97 V 100
2 8 V 28V

99
*27V

*16

P H IL A D E L P H IA

In a c t iv e S to c k s
B on d s
Allegheny Y a l p re f___50
A l V al E ext 7s 1910 A -0
American Cem ent....... 10
6 7s A lt A L V E le c 4 Vs’ 33.F-A
Amer Gas of N J ....... 100 i b o ” 100 v A m iiy se o n v 5s 1911-J-D
Bell T elephone............5o
56
56 v A tl City 1st 5s g ’ 1 9 .M-N
Balls T er 1st 5s 1926. J-D
Cambria Ir o n ............... 50
49 V 50
Central Coal < Coke. 100
fc
Berg<fcEBrw 1st 6s'21 J-J
Betlile Steel 6 s 1998.Q-F
79
Consol T rac of N J ...1 0 0
Diamond State S teel.. 10
Che 6c D Can 1st 5s ’ 16 J-J
V
Choc A M e 1st 5s 1949 J-J
P r e fe r r e d ...................10
Easton Con E lectric 5.50
Ch Ok A G gen 5s ’ 19 J-J
Elec Storage Batt___ 100
Col St Ry 1st con 5s 1932
70
72
P re fe rre d ................. 100
C o n T ra co f N J 1st 5 s .’ 33
Ft W ayne 6cW V ....... 100
E A A 1st M 5s 1920 M-N
Elec A Peo Tr stk tr ctfs
Jenna alow ii Pass.......50
Eq XI Gas-L 1st g os 1928
Indianapolis S t.......... 100
II A B T op con 5s ’25 A -0
Lndiana'Umon T r ___100
Insurance Co of N A . . 10
22V 23 V Indianapolis Ry 4 s .1933
Interstate 4s 1943 . . F-A
Inter Sm P ow 6c Cbem.60
28
Keystone Telephone ..5 0
11V Lehigh N av 4 Vs ’ 14.Q-J
P re fe rre d .................. 50
R R s 4s g ...... 1914.Q-F
Gen M 4 Vs g. 1924.Q-F
KeysloneW atckCase.100
Lit B rothers................. 10
15 V 16 V Leh V C 1st 5s g ’ 3 3 ..J-J
Little 8 ch u3'Ikill.......... 50
Leh V ext 4s 1st 1948. J-D
Minehill 6c Schuyi H ..5 0
2d 7s 1910............... M-S
N H aven Iron 6c S teel.5
Consol 6a 1923.......J-D
2V
2V
__. . .
Northern C entral........ 50
A n n u ity 6 s .............J-D
North Pennsydvania..50
Gen cons 4s 2003-M -N
Peunsy'lvania b a it.......50 113 Ll3 V I Leh V T rac 1 st4 s ’ 29. J-D
N ew Con Gas 5s 1948 J-D
Pennsylvania S teel.. 100
P re fe rre d .................100 105 107 V ! Newark Pass con 5s 1930
50
Plula Co (Pitta) n rei...5 0
5u V N Y Pli A No 1st 4s '39 J-J
Phil German 6c N o rris.50
Income 4s 1939__ M-N
Plula T raction............. 50
NoOluoTruc con5s'l9.J J
98 V 99
Railways General.......10
No Penn 1st 4s ’3 6 ..M-N
6V
Susqueh Iron 6c S te e l..5
Penn gen 6 sr l9 lU ..V u r
'fc
Tidewater Steel.......... lu
V
Consol 5» 1 1919... Var
V,
P re fe rre d ...................10
2V
Penn A Md Steel con 6s.
Tonopah M ining of N e v l
18 V 18V Pa A N Y Can 5s ’39. A O
Union T r of In d ........ lo o
Con 4s 1939............ A-O
United N J RR oc C .. lot;
2 58” . Penn steel 1st 5s '17 Al -X
U nit T rac Pitts pref ..5 0
People's Tr tr certs 4s ’4 :v
W arwick Iron 6c ste e l. 10
P Co lslA col tr 5»'4P M '
5V
West J ersey' 6c S eab li.50
ConA col tr 5s 1951 M-N
W ei i raor< land - oaL...5(J
93** 93 V 1 Phil Elec gold tru.^i cits.'
W ilke.H fias v Eie'U.lOO
Trust cert!fs 4s.............
-------

i
1

dand asked prices; no salon on this day.

99
28V

16V

*51V 52V *5 1 V 52
34V 35 V
34V 34 V
11
11V
11V 11V
10
*8
*8V
37
*36
36V 3 5V
18V 18V
18 V 18V
109 V 109V *107 V 109 V
78V 78V
77V 78V
*V
V
6313i0 647ie 649i0 65 V
49V 4 9 V *49 8* 50
8
8
8
8
30V 30V
30V 30V
63 V 6313i0 631110 64V
47
*46
*46
47
46
46
*45 V 46 V
63 V 63 V
63V 63V
84
8 3V 84
84V
29
*25

I

Ex-nghta.

Range lor Year
1906

>
ACTIVE STOCKS

B id

100
50
100
100
Do
100
Do
United Ry & E le ctric.. 50
P h ila d e lp h ia
American R ailw ays___ 50
50
E lectric Co of A m erica 10
100
Gen Asphalt tr ctis
100
Do pref tr ctfs
100
Lake Superior Corp
Lenigh C & N av tr ctfs. 50
50
Lehigh V a lley .........
100
Marsden C o..............
50
Pennsylvania R R ..
Plnladelp’aCo (Pitts b). 50
Philadelphia Electric}:. 25
Phila Rapid T ransit^.. 50
R e a d in g ...................
50
50
Do 1st p ref___
Do 2d p ie f.......
50
50
Uuited Gas Im p t.......... 50
W elsbach C o ..........
100

A 8k

Too v
100V

100
104
.......

i: i
2
i ’14 ”
105 V
108

" 99 V i o o ”
105 V
105
69 V 69 V

111V 112
113

123 V

150

*98”

108V 109 V
118V 119V

.......

ib i
109
103 V
99 V
t»'. 3
.j

;;;;;; 1
109 V I
11 '1 l
99 V
68 1

o paid.

82
20 97
250 27
10 86
56
100 15

P A E gen M 0 g ’ 20. A-O
Gen M 4s g 1 920..A A O
Ph A Read 2d 5s ’ 3 3 .A -0
Con M 7s 1911....... J-D
Con M 6 s g 1 9 1 1 ....J -D
E x Imp M 4s g ’ 4 7 .A-O
Terminal 5s g 1941.Q-F
P W & B c o l t r 4 s ’ 2 1 .J-J
Portland R y 1st 5s 1930Rocli R yA L con 5s ’ 54J-J
U Trac Ind gen 5s’ 19. J-J
Un R ys Tr ctfs 4s’49JAJ
U T rac P it gen 5s ’97 J-J
W elsbach s 1 5s 1930.J-D
Wlka-B G A E con5s’ 55J-J
B A L T IM O R E
Inactive Stocks
Ala Cons CoaiA Iron. 100
P r e f............................100
Atlanta A Charlotte.. 100
Atian Coast Line R R .100
Atlan Coast L (Conn) 100
Canton Co................... 100
Cons Cot Duck C o r p ...50
P r e fe rre d ................... 50
Georgia Sou A F ia ...l0 0
1 st p ref..................... 100
2 d p ref.......................100
G-B-S B rew in g.......... 100

92 J’ne20
107 V Jan 29
32 Jan 17
91V Mar30
62 V J an 5
19 Jan 15

Lowest

Highest

83 May 90 Apr
99 May 1 10V Sep
2 1 V j an 34 Dec
83 Mai 9 i V Nov
47 7 Jan 64 Dec
8
12 V Apr 16 Mar

51 M arl 5 54 Jan 27 48 Jan 54 V Apr
30V Jan 5 37 V Jan 24 24V May 32 Deo
11 May 9 12 V Jan 10 10 V Jan 12 V Feb
8 J ’ly 11 14 Jan 4
8 V Dec 17 V Jan
34 J ’ly 10 48 Jan 19 36 Nov 49 Jan
17 J ’ly 13 23V Jan 15 14 V May 25 V Mar
101V May 2 118 Jan 19 lo o V J ’ly 123 V N ov
65 May 2 86 J ’no 8 52 V Jan 90 V Nov
2 78 Dec
5V Jan
I V J ’ly 23 315io Jan 10
61% J ’ly 3 731110 Jan 22 6513i0 May 73 V Aug
47 A pr 20 a o4 *- Mar20 40 V Jan 5 5 l4 N ov
7% Jan 11
8 V Jan 15 8 J ’ne 12 V A pr
§24 J ’n el5 §34 V Jan 27 t l7 V J a n §36 A pr
56V May 3 83 Jan 23 BOV Jan 7D V 0 NOV
43 5b A pr 1(3 47i V 0 Jan 23 45 May 47 V Aug
10 4478 May 2 51 Jan 23 42 Jan 50V N ov
923 6LV M ar28 63 V Jan 30 58 V Mar 63 V Oct
4,230 5I8lV M ayl6 101 Feb 15 90 J ’ ae 125 V A pr
30 Jan 6 32 Mar 1 20 Feb 31 Nov
R id

A sk

113V 113V
108 110V
104
122 V 124
101
100

" 96 V
86 V 87
113
69 V 71

90
180
340
90
13
35 V
35
9b
80
9V

B on d s
Anacostia A Pot 5s.......... 105
A tl A Ch 1st 7 ...1 9 0 7 J-J 101
A llan C L RR4s L952M-S
99 V
All Coast L(Ct)ct fa 5a J-D 110
Ctfs of indebt 4a___J-J
90 V
91
5-20 yr 4a 1925.........J-J
Balt C Pass 1st 6 s ’ l l M-N 103
Balt Fundg 58.1916 M-N 110
Exchange 3 Vs 1930 J-J 102 V
Balt A P 1st 6 « m i ’ l l A-O 1 10
Balt T rac l s t 5 s . . ’29 M-N 115
No Balt id v 5s 1942 J -D J 17
Convertible 5 » .’06 M-N
Cent’ l Ry con5ft 1932 M-N I I 3 ”
Ext A Imp 5h. 1932 M S 112
4 $10 paid.

J’ne 7
J ’ly 3
J ’ly 12
J ’ly 18
May 8
Jah 8

H ighest

28
4,597
2,781
14
35
210
1,102
10,368
200
2,189
150
3,557
6,740
70,471

P H IL A D E L P H IA

r $15 paid.

Lowest

Range tor Brevious
Y e a r (1 905)

90 V
360
95
13 V
36 V
42
100

»5
10

99 V

112

103 V
il7 *

120

........

§ $20 paid.

B id

B A L T IM O R E
Chas City R y 1st 5s ’ 23 J-J
Ckas R y G A El 5s ’ 99 M-S
Chari C A A ext os.M 9 J-J
2d 7 s...............1910 A-O
City A Sub 1st 5s. . ’22 J-D
City A S u b (W a s)lst 5s’48
Coal A 1 R y 1st 5 s ’ 20F-A
Col A G rn v 1st 68.1916 J-J
Consol Gas 6 s ... 1910 J-D
5s..................... 1939 J-D
Ga A A la 1st con 5s ’45 J-J
Ga Car A N 1st 5s g ’29 J-J
Georgia P 1st 6 s . .. ’22 J-J
GaSo A Fla 1st 5s 1945J-J
G-B-S B rew 3-4s 1951M-S
2d income 5s 1951 M-N
K noxv T rac 1st 5s ’ 28A -0
LakeR E l 1st gu5s’42M-S
M etSt( W a sh )lst5 s’25F A
M tV e r Cot D uck la t 5s.
I n c o m e s .........................
N pt N A O P 1st 5s’ 38 M-N
General os— 1941 M-S
N orfolk St 1st 5s ’4 4 ..J-J
N orth Cent 4 Vs 1925 A-O
Series A 5s 1 9 2 6 ....J-J
Series B 5s 1926___J-J
Pitt Un T rac 5s 1997.J-J
Poto Val la t 5s 1 9 4 1 ..J-J
Sav Fla A W est 5s ’34 A-O
Seaboard A L 4s 1950 A-O
Scab A Roan 5s 1926.J-J
South Bound 1st 5s..A -O
U El L A P 1st 4 VsM9 M-N
Un Ry A El 1st 4 s ’49 M-S
Incom e 4s 1949.......J-D
Va Mid 1st Os 1906..M-S
2d series 6 s 1911.. M
3d series 6s 1916. M
4th ser 3-4-5s 1921 M-S I
Ili.M-b
5ik series 6s 1920
Va (Stale) 3 h new '3 J .J
Fund debt 2*3a 1 91 .J -I I
14
Weftt N C eon Os 1 1 J-J
Wes Va CA P lat 0: T 1 J -J
J -J
JWil A W eld 5 s.. 1
a Uecolp

0 82.

d.

95 7
e
115V
110
112
105
105
112
104 V
109
110
109 V
119V
110V
61V
36 V
105
114
116
86 V
96
ib’ 9 ”
109
110
110
110
113
114
80V
108
111 V
94
91V
72 V
io s ”
113

Ask
96V
1I2V
105 V
105V
114
104 V
109 V
110V
111
111
62V
37

87
100
.•••••
117

87
ll2 v
96
92
72 V
. mrm
mm
n

110

m
95
J11

9 .)
112

100 v 107 V
1 14

206

T H E CH RON ICLE

[VOL. LXXXLLL

gm eslrajetxl a n ti R a i l r o a d in t e lli g e n c e .
RAILROAD

GROSS

EARNINGS.

The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly returns
can be obtained. The first two columns of figures give the gross earnings for the latest week or month, and the last two
columns the earnings for the period from July 1 to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but rovers some other
period. The returns of the street railw ays are brought together sepa ra tely on a subsequent page.

July 1

L a te st G r o s s E a r n in g s .
R o a d s.

W e e k or
M o n th .

Current
Y ea r.

P r e v io u s
Y ea r.

to L a te st D a te .

C u r re n t
Y ea r

R oa d s.

8
Ala N O A Texas Pacific.
3 ,0 0 1 ,9 7 4 2 ,5 6 3 ,7 7 3
N O & N East_ J u n e ______ 2 6 4,498 237,665
108,572
99,631 1,3 8 0 ,2 6 4 1,358,041
Ala A Vicksb'g 'J u n e ______
102,280 1,3 0 2 ,2 2 2 1 ,424,023
113,246
Vicksb Sh A T_ IJ u n e ______
Atch Top A S Fe_ May ______ 6,782,264 5 .8 4 5 ,2 8 0 7 1 ,5 9 6 ,8 6 9 6 2 ,4 9 5 ,2 3 2
293,680 3 ,4 1 7 ,9 3 3 3 ,0 9 8 ,1 8 9
306,543
Atlanta A Char__ A p r il______
919,381
81,546 1,0 2 5 ,8 1 4
110,805
Atlantic A Birin _ M ay ______
Atl Coast Line_ M a y ______ 2 ,2 5 0 ,9 0 5 2.0 2 2 .1 0 3 2 2 .7 1 5 ,5 3 7 2 0 ,1 9 0 ,1 8 4
_
Balt A Ohio_____ J u n e ______ 6 ,5 7 2 ,M 4 5.7 6 8 .1 0 3 7 7 ,3 9 2 ,0 5 6 6 7 ,6 8 9 ,9 9 8
189,473 2 .2 8 0 ,2 6 0 1,9 6 7 ,1 5 2
Bangor A Aroost. M a y ______ 213,279
59,137
57,301
5,634
5 ,4 1 6
Bellefonte Central J u n e ______
4 2 ,894
4,433
42,391
3,897
Bridgt A Saco R_ M a y ...........
315,246
519,2 3 3
Buff Koch A Pitts 3d wk July 111,234 173,078
104,348 1,4 1 7 ,1 9 6 1,0 2 8 ,8 8 6
110,963
Buffalo A Susq__ May ______
135,222
149,516 1,6 0 7 ,6 3 5 1,5 4 1 ,1 9 9
Cal Northwestern J u n e ______
4 1 5.300
268,4 0 0
9 2 ,9 0 0
Canadian North. 3d wk July 141,400
Canadian Pacific. 3d wk July 1 ,3 0 6 ,0 0 0 1,015,000 3 .9 5 1 .0 0 0 3,04 2,000
6 6 0 ,7 2 0
6 1 3 .3 0 0
Cent'l of Georgia. 3d wk July 227,100 2 1 4.000
Cent'l of N Jersey M a y --------- 1 ,736,264 2 113,292 21 ,8 8 3 ,8 8 8 2 0 ,6 7 3 ,5 2 6
6,997
3 ,6 1 8
4 ,2 0 0
2,068
Chattan Southern 2d wk July
2 ,1 9 5 ,3 4 2 1,802,480 2 2 ,406,431 1 8 ,877,813
Chesap A O hio.. May
3 0 ,7 2 6
35,637
2,872
2,670
Chesterf'd A Lane M a y ______
852,282 10.674,535 10 ,8 8 0 ,9 8 2
Chic & Alton lty. M a y ______ 822,121
403,011
469,441
Chic Gt Western. 3d wk July 159,432 130,803
3 3 0,864
336; 560
Chic Ir.d & Louise od wk July 113,674 109,434
Chic Milw A St P_ May ____ _ 4 ,3 4 9 ,2 4 3 3 ,9 0 0 .5 5 4 5 0 ,6 4 9 ,3 2 0 4 5 ,6 4 3 ,4 8 8
Chic & North W_ J u n e ______ 5 .7 5 7 ,2 2 3 5 ,0 4 4 ,8 1 6 6 3 ,4 8 1 ,5 7 5 5 5 ,7 4 5 ,2 7 3
Chic St P M A O. May ______ 954,687 888,973 11 8 5 9,576 10 ,9 3 6 ,0 5 0
9 4,844
3 1 ,127
32,072
94 304
Chic Term Tr R R 3d wk July
164,697 1,958,009 1 ,8 0 1 ,8 1 5
180,431
Colorado Midland May ______
448,289
406,873
199,155
h Col A South Sys 2d wk July 218,106
2 1 6,872
25,094
271,445
18,465
Col Newb A Lau. M a y ______
560,914
50,572
55,543
Copper Range_ A p r il______
_
504,649
187,644
89,S02
17,470
21,683
Cornwall________ M a y ______
408,042
3 5 ,o n
256,099
33,359
Cornwall A Leb__ M a y ______
Denver & Rio Gr_ 3d wk July 396.200 3 3 6 ,2 0 0 1 ,1 1 5 ,1 0 0
9 9 5 ,6 0 0
6 7 ,7 9 0
18,060
24,411
5 7 ,3 8 4
Det A Mackinac. 3d wk July
56,937
63,887
128,346
Det Tol A Ir Sys. 2d wk July
115,126
13,824
29,183
Dul RL A Winnip M a y ____
128,621
61,166
56,369
112349
Dul So Sh & Atl. 2d wk July
Erie___ ■__ ______ May ______ 4,102,434 4,1 3 5 ,1 0 8 4 5 ,500,600 41 ,3 9 6 ,8 6 3
2,344
20,621
3 4 ,3 4 6
1,343
Fairchild & N E_ M a y ____ _
776,941
Eon Johnst & Gl_ J u n e ______
705,583
_
Georgia R R _ „_ M a y ______ 223’, 141 197.322 2,6 4 3 ,3 5 3 2 ,2 8 9 ,5 2 4
Gr Trunk System 3d wk July 814,787 720,266 2,453.381 2 ,1 9 4 ,8 2 2
113,569
9 6,143
Gc Trunk West 1st wk July 113,569
9 6,143
39,579
30,717
39,579
Det Gr H & M_ 1st wk July
3 0 ,7 1 7
4 0 ,0 0 2
47,433
47,433
4 0 ,0 0 2
Canada Atlan_ 1st w k July
Great N orthern._ J u n e ______ 4 ,4 2 3 ,2 9 0 3 ,5 6 0 ,9 4 5 49 ,5 0 5 ,3 8 3 41 ,608,430
191 ,221 2 ,7 5 4 ,3 0 4 2 ,3 8 5 ,6 0 2
Montana Cent'l J u n e ______ 250,542
Total system _ _ J u n e ______ 4 ,6 7 3 ,8 3 2 3 ,7 5 2 ,1 6 6 5 2 ,2 5 9 ,6 8 7 4 3 ,9 9 4 ,0 3 2
85,431
4 0,898
43,155
86,041
Gulf A ShipLsland 2d wk July
Hocking Valley. _ J u n e ____ _ 531,886 5 2 7,672 6 ,4 3 9 ,8 0 6 6 ,0 1 3 ,2 1 3
Illinois Central__ J u n e ______ 4 ,3 3 9 ,0 0 9 4 ,1 1 0 ,6 9 4 5 1 ,6 7 5 ,0 2 6 4 9 ,5 0 8 ,6 5 0
336,556
26.432
24,455
Illinois Southern. J u n e ______
278,929
323,400
Int & Gt North'n 3d wk July 111,500 108.000
3 0 6,800
395,724
a Tnteroc (M ex). _ 3d wk July 137,954 116,674
343,216
159,314
49,105
53,313
Iowa Central___ 3d wk July
150,144
156,538 1,9 6 0 ,8 6 7 1 ,6 1 3 ,2 9 6
177,630
Kanawha A Mich May --------Kan City South'll J u n e ______ 6 6 1,980 573,928 7,7 5 2 ,8 8 9 7 ,0 6 0 ,8 8 7
Lehigh Valley_ M a y --------- 2 ,4 1 8 ,3 3 5 2.781,731 29,616,993 28 ,2 8 8 ,3 7 3
_
51,036
481,513
47,313
Lexing & East'n. May ______
425,151
I n c . 709, 137
I n c . 85 ,470
Long Island_____ M a y ______
956,461
8 4,102
Louisiana A Ark. M a y ______ 105,308
765,533
Louisv A Nashv. 3d wk July 854,585 759,765 2 ,4 6 6 ,7 8 5 2 ,2 3 1 ,2 5 5
9,772
11,259
134,032
147,359
Macon A Birm_ J u n e ______
_
4 0,304
39,959
387,173
Manis & No East. M a y ----------393,7 2 8
14,112
14,461
102,238
Manistique______ J u n e ______
8 9 ,0 4 4
3 6 0.300
26,088
27,688
Maryland A Penn J u n e ______
323,571
a Mexican Cent'l. A p r il______ 2,5 0 0 ,3 7 2 2,2 7 0 ,2 4 0 23.315.446 2 1 ,4 1 8 ,2 3 8
9 4,178
355,857
a Mexican Intern 3d wk July 118,738
328,6 0 8
127,000
a Mexican R y _ 1st wk July 127.000 115,500
_
115,500
24,818
22,117
22,117
a Mexican South. 1st wk July
2 4 ,8 1 8
59,379
6,015
8,133
52,521
Millen A Southw. February _
14,206
25,393
14,093
Mineral Range_ 2d wk July
_
2 5 ,250
67,595
65,226
202,676
Minneap A St L_ _ 3d wk July
197,1 1 0
169,852
674,502
M St P & S St M. 3d wk July 236,899
501,299
Mo Kan A Texas. 3d wk July 412,292 370,757 1 ,133,809 1,009,151
Mo Pac A Iron Mt 3d wk July 8 7 9.000 8 5 3 .0 0 0 2 .3 0 7 .0 0 0 2 202,000
5 5 ,0 0 0
3 6,000
9 6 ,000
Central Branch 3d wk July
127,000
Total_________ 3d wk July 9 1 5.000 9 0 8 .0 0 0 2 .4 0 3 .0 0 0 2 ,3 2 9 ,0 0 0
58,522 1 ,0 3 3 ,3 5 2
106,133
b Mob Jack & K C M a y ------- .
627,745
NashCh & St- L__ M a y ______ 995,199 8 5 5,427 9,992,461 9 ,2 8 2 ,4 4 3
794,972
Nat R R of Mex. _ 3d wk July 263,318 230,489
6 7 4,946
2 2,512
Hidalgo & N E 3d wk July
5 8 ,104
3,184
7,856
Nevada Central__ M a y ______
54,438
3 2 ,0 1 2
22,574
21,041
231,736
2 2 1,182
Ne v—
Cal—
Oregon _ J u n e ______
669,634 6 ,5 6 2 ,5 8 4 6 ,4 1 6 ,7 2 5
5 5 4.410
N Y Ont & West. M a y --------N Y Susq A West M a y ______ 204,427 245,663 2,5 0 6 ,3 1 3 2 ,4 8 5 ,7 0 5
Norfolk & West'n M a y ______ 2 ,5 5 7 207 2 ,2 2 3 ,0 0 3 2 6 ,0 0 9 ,7 2 0 2 1 ,9 2 0 ,4 1 5
Northern Central M a y ______ 9 6 1,065 9 5 6,565 10 .0 8 4 .4 4 6 9 ,4 7 2 ,2 4 6
,

July 1 to L a te st D a t e .

L a te st G r o s s E a r n in g s .

P r e v io u s
Y ea r.

C u rren t
Y ea r.

W e e k or
M o n th .

Current

P r e v io u s
Y ea r.

Y ea r

P r e v io u s
Y ea r.

S
I
8
$
I
$
N Y C & Hud Riv J u n e _____ 7 ,6 4 9 ,6 4 5 7,053,861 89 7 8 5 ,2 6 0 8 1 ,2 8 9 ,9 6 7
L S & M S ______ J u n e _____ 3 ,5 5 7 ,2 9 8 3 .1 6 0 ,8 4 7 4 1 ,0 4 0 ,9 6 2 36 ,1 8 9 ,7 4 9
402,461
Lake E A W est J u n e _____
3 9 8 ,5 6 0 5 ,2 7 3 ,3 0 2 4 ,962,351
169,409
Chic Ind& Sou / J u n e _____
155,538
Mich C e n tr a l.. J u n e _____ 2 ,1 7 3 ,4 4 3 1,900,423
C C C & St L __ J u n e _____ 2 ,0 39,791 1 ,928,578 2 3 ,6 4 9 ,2 9 5 2 2 ,3 7 2 ,3 1 2
257,607
Peo A Eastern _ J u n e _____
216,798 3 ,1 1 5 ,3 7 5 2 ,8 3 4 ,4 2 4
Gin N o r th e r n ._ J u n e _____
9 4,258
75,628
Pitts A Lake L J u n e _____ 1,3 5 9 ,7 7 6 1 ,0 8 3 ,4 6 6
R u tla n d _______ jJune _____
257,801
2 2 7,018 2 ,6 8 7 ,6 6 4 2 ,4 9 4 ,3 6 5
N Y Chic A St L [J u n e_____
791,631
711.696 9 ,6 5 1 ,8 1 8 8 .6 5 1 ,0 4 6
Northern Pacific. I u n e _____ 5 ,3 1 5 ,9 1 2 4 ,4 7 6 ,3 8 8 1 6 2 ,1 4 0 ,4 1 0 5 1 ,7 2 9 ,3 6 2
J
Ohio Riv A West |
February _
16,231
12,342
155,824
13o,L59
5 2 3,516 5 ,8 2 0 ,5 9 5 : 5 ,5 8 'j . 119
Pacific Coast Co _ Mas
4 5 8 ,3 4 8
11422 133 12995(3 680 112010
aPe n n - E a st P A L •May------4 ,1 0 0
o W est T A L _ M a y _____
f
I n c . 8 ,4 0 8,7 0 0
Phija Balt & \Y \ h M a y _____
1,3 4 6 ,3 5 8 1 3 ,8 3 2 ,9 3 2 12,834, 832
679,321
Phi la & E r ie ____ ! M a y _____
732,799 7 ,5 5 7 ,0 3 i 7 ,1 0 .. *35
Pittsb C C A St L | u n e _____ 2 ,4 4 2 ,8 4 9
J
2 4 1,342 28 ,3 6 1 ,7 7 1 2 5 ,0 2 0 ,3 7 0
4,374
Raleigh & 8 ’p o rt. J u n e _____
5,695
64,282
4 9 ,c 3 7
Reading Railway IM a y ------- 3 ,2 8 9 ,0 5 2 3 ,5 5 0 ,4 7 7 3 6 ,9 5 9 ,1 1 7 3 4 ,0 0 4 ,1 5 5
Coal A Iron Co IM a y _____ 2 ,7 7 3 ,7 8 3 ,3 ,6 4 2 ,0 4 8 3 0 ,7 6 9 ,3 0 0 3 3 ,3 6 3 ,7 1 6
Total both co s. M a v _____ 6 ,0 6 2 ,8 3 5 :7 , 192,525 6 7 ,7 2 8 ,4 1 7 67,367,871
Rich Fr'ksl) A P_ M a y _____
2 0 8 ,2 6 7
2 0 0 ,7 1 0 1,585,4961 1,426 419
ro o 1 8
613,381
5 8 ,8-,o i
54,457
Rio Grande Jct__ May _____
5 2 3,753
Rio Grande S o ___ 2d wk July
2 1,454
l l ,6 6 1 i
10,952
19,059
Rock Island S y s . M a y ------1 3 ,9 2 6 ,8 0 1 3 ,4 9 8 ,3 7 4 4 7 ,0 6 2 ,5 3 7 40 ,2 8 9 .0 9 5
2
124,266, 116.265! 1 ,4 0 7 ,6 6 7 ' 1 1 7 2 ,* * *
St Jos A Gr Isl.. __ M a y _____
e St L A San Fran May '_____ 3 ,1 8 1 ,6 6 3 3 ,0 2 2 ,4 8 6 3 8 ,6 2 6 ,3 9 9 3 5 ,3 1 9 ,4 7 8
St L Southw est. _ 3d wk July
172,894
184,5091
501,9051
492,251
Seaboard Air Line M a y _____ 1 .2 9 6 ,7 2 6 1 ,2 2 1 ,5 9 4 13,898 126! 12 ,4 3 9 ,4 0 7
36,3 7 7 ,
31 ,9 5 8 ' ____ __________________
Sierra Railw ay __ J u n e _____
132,797: 106,748 1 ,4 5 6 ,2 4 6 ' 1 ,3 8 0 326
Southern Indiana J u n e _____
c So Pacific C o ___ February _ 8,001 ,844 6,581 .998 69,786,157 53,240,992
937,257 2 ,9 8 8 ,1 1 4 2 ,7 1 6 ,0 8 5
Southern R y Jc___ 3d wk July 1 ,0 5 5 ,6 4 2
419.341
4 8 3,608
144,299
Mobile & O h io. 2d wk July
160,885
242.049
121,297
161,100
309,435
Cin N O & T exP 2d wk Julv
118.754
63,585
A la Great S o u . 2d wk July
125,076
58,393
149,996
1 .928,77? 1,714.701
144,511
Ga South A Fla J u n e _____
14,682
28,059
13,460
24,985
Texas Central___ 2d wk July
180,427
627.355
2 2 5,780
522,5 5 7
Texas A Pacific. _ 3d wk July
8,7 0 0
13,000
T e x S V A N W __ February 1
8 1 .2 5 7
8,206
32,704
9,5 8 0
Tidewater & W e s t . May _____
268,832
,7 5 2 ,1 2 4 :
,448.959
258,051
Tol < Ohio C ent. M a y _____
fe
66.401
21,021
63,909'
22,759
Tol P & W e st.____ 3d wk July
203,811
6 9.132
Tol St L < W ____ 3d wk July
fe
211.948
71,767
3 ,7 9 7
5,5 6 0
Tom bigbee Valley May ____
6 6 ,2 4 2
Tor H am < Buffi J u n e _____
fe
749.248
660,226
54,249
,716,870 6 1 ,7 7 4,2601 54,1 05,188
Un Pacific System M a y _____ 5,6 6 6 ,9 3 1
680,421
70,388 1 ,0 0 8 ,9 1 5
8 8 ,1 4 0
Virginia < So W 'n J u n e _____
fe
4 7 2,842 1,47 2 ,9 4 5 ' 1,292,221
5 2 2,477
W a b a s h __________ 3d wk July
256,5 5 0
8 8 ,4 1 8
W esternMaryland 3d wk July
298,083:
9 9,523
350,850 4 ,5 12,734 3 .9 4 6 ,8 3 4
401,150
W est Jersey & S'e Ma y ____
283,269
W heeling H E . 3d wk July
283,395
9 6,917
93,396
154,807
161,189
14,908
12,868
W 'm sport < N Br M a y _____
fe
Wisconsin Central M a y ------594,899 6,5 0 6 ,6 9 8 6,0 8 5 ,1 1 9
602,403
178,484
191, S98
12,531
12,703
Wrights & T en n . M a y ------564,348 8 ,6 6 5 ,4 9 9 8 ,6 7 0 ,2 4 6
710,416
Yazoo A Miss Val J u n e _____
C u rren t
Y ea r.

P er io d

V a r io u s F is c a l Y e a r s .

Atlanta A Chari Air L in e____
Bellefonte Central _ _______
a Interoceanic of M exico____
Manistee & N orth E astern ___
Manistique ______
a Mexican International___
a Mexican R ailw ay________
a Mexican Southern _ ________
National R R of M exico_______
New Y ork Central
. . .
Lake Shore A Mich S o u th . _
Lake Erie & Western
l Chicago Ind A Southern.
Michigan Central
Clev Cin Chic A St L ou is___
___
Peoria A E astern .
Cincinnati Northern
____
Pittsburgh A Lake E rie___
Rutland
N Y Chicago A St L o u is___
Northern Central.
d Penn— E ast of Pitts A E ___
d W est of Pitts A E _ ___
Phila Baltimore A W a s h ______
Philadelphia A E rie ___
___
Pitts Cin Chic A St Louis
____ __
Rio Grande Jet . __
Texas A Pacific __
_ ______
W est Jersey A Seashore_____

Mch
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Jan
Dec
Jan
Jan

1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1

to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to

Apr
June
July
M ay
June
Julv
July
July
Julv
June
June
June
June
June
June
June
June
June
June
June
Mav
M av
M ay
M ay
M ay
June
May
July
May

30
30
21
31
30
21
7
7
21
30
30
30
30
30
30
30
30
30
30
30
31
31
31
31
31
30
31
21
31

P r e v io u s
Y ear

S6S6 464
27,984
3 ,8 8 9 ,7 7 5
209.463
51,157
4 ,3 8 7 ,7 1 8
3 ,6 0 4 ,3 0 0
653,938
8.17S .716
4 2 ,8 7 9 ,2 2 4
2 0 ,6 0 7 ,0 9 6
2,5 2 5 ,3 7 9
1,146.253
12,619,142
1 1 ,3 6 2 ,5 1 8
1,4 6 1 ,5 5 6
475,761
7,0 4 7 ,1 5 6
1,267,868
4,SS5,999
4 ,4 3 4 ,6 9 2
57 ,4 6 6 ,1 6 2
7??c.3,66
6 ,1 4 8 ,9 9 4
2 925,379|
14 ,1 5 2 ,5 5 9
3 0 5,036
7 ,1 9 9 ,6 5 8 '
1 ,669,428!

§6 5 3 ,9 3 0
2 9 ,4S0
3 ,574.931
197,537
41,595
3,5 7 1 .0 8 9
3 .2 4 6 .6 0 0
642 710
6 ,7 85,291
3 9 ,1 8 9 ,5 6 3
18 ,1 6 6 .9 4 4
2,289.371
1.036,873
10,727,159
10.231,023
1 ,306.904
379,649
6 ,0 53,292
1.1 4 2 ,2 9 2
4 ,3 4 2 ,9 1 0
4 ,0 6 2 ,3 9 2
5 0 ,5 6 6 ,7 6 2
8 ,S00
5 ,8 0 4 ,0 9 4
2 ,8 9 3 ,2 9 0
1 2 ,538 925
260,0 3 4
6 ,1 6 8 ,5 4 2
R 41 4.62 S

AGGREGATES OF GROSS EARNINGS— Weekly and Monthly.
Monthly Summaries.
3rd
4th
1st
2nd
3rd
4Jh
1st
2nd
3rd

week
week
week
week
week
week
week
week
week

May

May
June
June
June
June
July
July
July

(39
(39
(40
(41
(42
(41
(43
(43
(33

roads). .
roa d s). roads) __
road s)__
r o a d s )-.
roads) __
roa d s)__
roa d s). _
r o a d s ).-

Cur’nt Year Prev.
8
8 ,3 2 0 ,0 0 6
13,682,041
8 ,7 0 9 ,8 0 4
8 ,9 2 9 ,5 1 6
9 ,4 3 9 ,0 8 0
1 2 ,8 5 2 ,0 4 8
8 ,7 1 6 ,9 2 2
9 ,3 8 9 ,1 1 7
8 .9 2 1 ,7 7 5

Year Inc. or Dec.
%

7 ,3 09,639
1 2 ,000,433
7 ,6 5 2 ,3 8 0
8,0 0 1 ,3 1 3
8 ,2 7 0 .7 4 6
11,068,031
7,7 8 1 ,6 2 8
8 ,3 0 7 ,9 0 3
7 ,9 0 8 ,5 8 8

§
f
4 -1 ,0 1 0 ,3 6 7
+ 1 .681.608
+ 1,0 5 7 ,4 2 4
+ 928,203
+ 1 ,1 6 8 ,3 3 4
+ 1,7 8 4 .0 1 7
+ 9 3 5,294
+ 1 ,0 8 1 ,2 1 4
+ 1 ,0 1 3 ,1 8 7

Monthly Summaries.

%

Cur’nt Year Prev.
$

13.82
14.01
13.82
11.60
14.13
16.12
12.02
13.01
12.81

Month
Month
Month
Mb nth
Month
Month
Month
Month
Month

Oct
Nov
Dec
Jan
Feb
Mch
Apr
May
June

1905
1905
1905
1906
1906
1906
1906
1906
1906

(115
(115
(113
(117
(118
(110
(111
(1 2 4
(67

rds) 170,515,148
rds) 165,977,137
rds) 159,312,944
rds) 1 5 2 ,9 8 0 ,4S 5
rds'1 1 42,656,542
rds) 1 59,258,890
rds) 1 3 6 ,6 8 5 ,5 3 7
rds) 152,18 3 ,7 4 2
rds) 72 ,7 0 8 ,9 0 2

Year Inc. or Dec.

§
157,100,827
150,405,695
142,053,423
1 26,555,852
112,S95,257
143,9 7 8 ,4 4 0
1 28,005,775
1 38,557,872
6 4 ,205,232

S
13,414,321
15,571,442
17,259,521
2 6 ,424.633
2 9 ,761,285
1 5 ,280,450
+ 8 ,6 7 9 ,7 6 2
-r 1 3 ,6 2 5 ,8 7 0
+ 8 ,5 0 3 ,6 7 0
+
+
+
+
+
+

%
854
10.35
12.15
20.88
26.36
10.61
6.78
9.83
13.24

a .Mexican currency,
b Includes earnings of Gulf < Chicago Division,
&
c Includes the H ouston < Texas Central and its subsidiary lines In both
fe
year*.
'/C o v e rs lines directly operated, e Includes the Chicago A
stern Illinois in both years,
h Includes earnings of Col. < South., Ft.
fe
W o rth & Denver City and all affiliated lines, excepting Trinity < Brazos Valley R R . k A tlan ta K n oxville & Northern included in both years since
fe
April 1; it had previously been included in 1905 since Jan. 1; earnings of Transylvania Railroad included from Jan. 1 1906 and of E ast Division or
Tennessee Central from D ec. 1 in 1905 only. I Figures prior to April_ _
06_are those of_the Indiana Illinoisjfe Iow ajand In d . H arb. of Indiana.

1

10 19

July 2$ 1906.]

Interest Charges and Surplus.

Latest Gross Earnings by W eeks.— In the table which
follows we sum up separately the earnings for the third
week of July. The table covers 33 roads and shows 12.81%
increase in the aggregate over the same week last year.
1906.

Third week of July.

S14.787

720,266

111.500
137,954
53,313
854,585
118,738
67,595
236.899
412,292
S79.000
36.000
160,885
263,318
172,894
1,055,642
225,780
21.021
69,132
522,477
99,523
96,917

108,000
116.674
49,105
759,765
94,178
65,226
169,852
370,757
853,000
55,000
144,299
230,489
184,509
937,257
180,427
22,759
71.767
472,842
88.418
93.396

— n tR e n ta ls , <&
I
c.--------Bal. of Net E }ngs.—
Current
Previous
Current
Previous
Year.
Year.
Year.
Year.
§
S
$
S

Roads.
Bost Revere B ’ch A Lynn—
Apr 1 to June 30----July 1 to June 30___
Increase. Decrease.
Jan 1 to June 30----S
S
Hocking Valley______June
61,844
July 1 to June 30_
_
48,500
Pocohontas Collieries. June
291,000
July 1 to June 30----13,100
Rio Grande Junction.May
28.629
Dec 1 to May 31----4.240
945
Texas Central-----------June
60,000
Julyl to June 3 0 - - ..
6,351
x After allowing for other
94,521

15,608
62,192
31,512
111,073
794,223
15,315
300,230
8,334
50,000
2,583
30,998

14,927
£6,472
£1,576
60,196
£36,021
£18,242
29,735 xdef 6,106 adefl.5,195
120,544 £167,782 £111,315
899,692 Xl ,772,934 x 1,427,851
14,587
9,175
6,253
117,430
8,334
9,311
8,004
50,000
41,510
28,009
2,583
12,836
5,165
30,997
339,923
244,482

income received.

STREET RAILW AYS AND TRACTION COMPANIES.
i

Interoceanic of Mexico------Iowa Central------- . ------------Louisville & Nashville______
Mexican International____
Minneapolis A St Louis____
Minn St P A S S M_________
Missouri Kansas A Texas__
Missouri Pacific A Iron Mtn_
Central Branch__________
Mobile A Ohio _ - _________
National RR. of M exico-_
St Louis Southwestern_____
Southern Railway_______- .
Texas A Pacific___________
Toledo Peoria A Western—
Toledo St Louis A Western.
Wabash.................. ...............
Western Maryland________
Wheeling A Lake Erie______
Total (33 roads)------Net increase (12.81% ).

1905.

S
8
111.234
173,078
92,900
141 .400
1,306.000 1,015,000
227.100
214,000
159.432
130.SOS
109.434
113.674
32,072
31,127
336,200
396,200
24,411
18,060

Buffalo Rochester & PittsbCanadian Northern------------Canadian Pacific----------------Central of Georgia_________
Chicago Great Western____
Denver A Rio Grande........ Detroit £ Mackinac— ........
Grand Trunk of Canada----Grand Trunk Western----Detroit Grand Hav & Milw
Canada A Atlantic----------

207

TH E CHRONICLE.

3,500
21,280
4,208
94,820
24,560
2,369
67.047
41,535
26.000

Name of
Road.

19,000

16,586
32,829

11,615

118,385
45,353

1.738
2.635

____
49.635
11,105
3,521

96,832

- 1 8,921,775 7,908,588 1,110,019
1,013,187
1

For the second week of July our final statement covers 43
roads and shows 13.01% increase in the aggregate over the
same week last year.
Second week of July.

1906.

1905.

Increase. Decrease.

s
8
S
Previously reported (31 rds.)_ 8.071,573 7,148,618 1,034,882
5,192
Alabama Great Southern___
63,585
58,393
3.618
1,560
2,058
Chattanooga Southern_____
112.574
Chicago Indianap A Louisv__
114,405
161,100
121,297
Cine New Orl A Texas Pacific
39,803
6,950
63,887
Detroit Toledo A Ironton___
56,937
Grand Trunk of Canada____ 1
Grand Trunk Western____ \ 845,539
738,628 106,911
Detroit Grand Hav A Milw
Canada A Atlantic_______ J
40,898
Gulf A Ship Island__________
43,155
10.952
709
11,661
Rio Grande Southern_______
1,222
Texas Central______________
14.682
13,460

3
111,927

9,389,117 8,307,903 1,197,229
1,081 ,214

116,015

Total (43 roads)__________
Net increase (13.01% )______

1.831

2,257

Net Earnings Monthly to Latest Dates.— The table fol­
lowing shows the gross and net earnings of STEAM railroads
reported this week. A full detailed statement, including all
roads from which monthly returns can be obtained, is given
once a month in these columns, and the latest statement of
this kind will be found in the issue of July 21 1908. The
next will appear in the issue of Aug. 24 1903.

Latest Gross Earnings.
Week or
M onth.

Albany & Hudson. A pril_____
aAmerican Rys Co. J u n e ____
cAur Elgin AChi Ry May ____
Binghamton R y __ J u n e __ _
Birin Ry Lt A Pow June __ _
Boston A WorcestT J u n e ___
B rock t * &Ply St Ry M a y ___
n
Burlington (Vt) Tr_ J u n e ____
Cape Breton El Co. May ___
Cent Penn Trac__ May _ _ _
Charleston Cons Ry
Gas A Elect___ June
ChattanoogaRysCo June
Chic A Milw Elec. _ June ___
d Chi A Oak Park. June _ _ _
Clev Painsv A E__ June _ _
_ ..
Clev A S W Tr Co. June
Columbus RR Co_. May _ __
Gas Light Co__ M a y __ Dallas Elec Corp’n. May _ _
Detroit Mon A Tol. 2d wk July
Detroit United Ry. 2d wk July
Duluth Street R y. 3d wk July
_
East St L A Sub__ M a y _ __
El Paso Electric__ May _
Ft Wayne A Wab
Valley Traction. May ------Galveston Elect Co Mav _
_
Georgia Ry A Elec- April _
Hart ASpringSt Ry Mav
Havana Elec Ry_. Wk July 22
Honolulu Rapid Tr
_
A Land Co____ M a y _
Houghton Co St Ry Mav ____
Houston Elec Co._ May
.
Illinois Trac Co__ J u n e ____
Indianap Col A So. June _ _ _
Jackson Consol Tr. May ____
Jacksonv Elec Co _. April _.
Kan City Ry A Lt. Mav ____
Lake Sh Elec Ry _ _ May __ _.
Lehigh V Transit _. May
Lorain Street Ry__ May ____
Madison A Int Trac June _
Manila El Ry A Ltg
Corp— Ry Dept. June
Lighting D ept.. June _
Met West Side Elev June _
Mil Elec RyALt Co June _ __
Mi) Lt H A Tr Co. J u n e __ __
Montreal Street Ry Wk July 21
Nashville Rv A Lt. J u n e ____
NJAHR IlyAFCo. J u n e __
N O Ry A Lt Co. _ May
Niagara StCA Tor. A pril____
Norfolk Rv A Light A p r il____
Nor Ohio TrALt Co June __
Northern Tex TrCo Mav .
Northwestern Elev June _ __
Oklahoma City Ry March
Olean Street Ry_. . A pril___
Orange Co Traction M a y ____
Peekskill Lt A R R . J u n e ____
Pitts M;K A Green J u n e ____
Portland Rys Co__ May
Puget S'd Elec Ry. March
St Joseph (Mo) Rv
Lt Ht A Pow Co. J u n e ____
Savannah Elec Co. Mav ____
Seattle Electric Co A pril____
South Side Elev__ J u n e ____
Syracuse R T Ry__ J u n e ____
Tacorna RyAP Co M arch___
Tampa Electric Co. | ay ____
M
Terre Hte T A L Co M a v ____
Toledo Rys A Light J u n e ____
Tol Urb A Inter Ry June ____
Toledo A Western | p ril____
A
Toronto Railway.. Wk J'ulv 21
Twin City Ran Tr. 1 st wk July
1
United Rys of St I J u n e ____
Wash Alex A Mt V J u n e ........
Whatcom Co Ry A
M a y _____
Light Co__

Current Previous
Year.
Year.

Jan. 1 to latest date
Current
Year.

%
$
$
21,305
21,122
85,207
247,398 221,205 1,250,008
91,730
102,533
30,252
26,226
138,406
156,573 131 ,308
49,758 45,508
214,732
8,793
8,721
8,760
8,250
20,874
17,668
50,636
57,357
254,748

Previous
Year.
S
81,157
1,120,592
123,503
190,312

210,806

55,612 53,572
287,726
314,793
42,904
39,452
224,688
193,035
84,555
53,218
331,873
211,973
68,382
66,192
406,144
422,733
27,257
23,941
113,887
99,415
59,058 48,558
289,277
237,375
15,221
17,140
2',188
1,872
83,369 72,439
7,207
5113,451
115,654 102,821 2,899,567 2,539,370
16,149
14,418
407,508
349,189
162,740 144,135
619,211
561,279
31,666 23,823
148,639
115,049
74,062
87,327
27,721
22,252
235,372 202,331
10,545
13,416
y 28,874 2/28,474

398,958
107,296
912,169
60,726
7/845,778

340,657
95,974
752,339
53,801
?/778,424

29,452
28,502
140,690
132,273
18,212 f 10,993
79,937
41,325
49,176
223,022
188,341
43.636
236,868 189,083 1,344.830 1,094,713
21,015
18.694
104,809
91,118
41,321
51,377
12,170
9,935
26,226
104,826
27,754
98.949
460,044 418,552 2,114,835 1,839,524
67,793
61,586
300,208
258,657
69,403
473,632
76,403
12,067
11 ,260
12,958
52,259
11'689
59,011
262,000
43,250
30,500
175,'250
200,961 186,868 1,228,641 1,111,355
295,947 279,048 1,651,866 1,542,458
65,672 55,163
256,824
292,823
67,851
58,027 1,677,798 1,464,540
650,680
112,930 99,070
548,935
145,852
44,272 36,434
•188,943
2,452,810
470,901
46.874
16,609
51.352
14,576
58,222
52,342
192,160
230,389
92,984 85,163
461,056
425,478
57,080
71,485
120,247 113,755
703,447
748,159
11,369
29.830
9,920
10,934
35.814
33,961
43.898
39,016
11 ,726 11 ,445
65,976
56,478
12,904
15,219
22,798
77,905
96,483
17,701
144,503 134,610
48,933 35,954

------ Gross Earn’gs------ ------ Net Earnings-----Current
Current
Previous
Previous
Year.
Year.
Year.
Year.
$
g
Roads.
S
8
Bost Revere B ’ch A Lynn_ \—
>
18,434
Apr 1 to June 30___
208.920
12,095
169,126
July 1 to June 30___
636,202
80,126
60,056
729,523
Jan 1 to June 30___
18,179
6,893
340,431
278.053
Fonda Johns A Glv.a—
343,177
392,726
72,331
65,683
July 1 to June 30___
373,287
776,941
322,623
222,286
705,583
245,784
53,173
50,569
779,312
231,492 203,424
917,760
Hocking Valley.a___ June
183,289
178,114
527,672
531,886
814,525
871 ,194
152,655 140,911
July 1 to June 30__ 6.439,806 6.013,213 2,258,034 1,945,313
88,990 80,742
454,010
517,114
Iowa Central ,a ____ June
>*61.207
242,062
226.927
A78
_____
59,510 47,874
July 1 to June 30__ 2,958,584 2,588.297
>*774.847 >*460,216
163,921
38,483 34,953
188.080
Kansas City South_a_Jun661,980
108,791
163.253
573,928
294,290
231.329
60,473
51 ,749
July 1 to June 30__ 7,752,889 7,060,887 1,934,320 1.705.923
895.792
178,110 163,226
962,500
139,586
28,979
24,885
161,852
Minneap A St L a. June
£138,441
326.671
311,244
£134,345
63.568
72,600
18,588
17,790
July 1 to June 30__ 3,726.663 3,076,754 kl ,417,470 k 1,130.380
61,455 56,102 1,600,919 1,423,249
PittsCinChic A St L.a .June 2.442.849 2,241 ,342
589.115
586.368
127.859 101 ,684 2,679,495 2,269,750
Jan 1 to June 30__ 14.152.559 12.538,925 3,169,652 2,626.158
791,402 746,101 4,400,267 4,046,087
Pocahontas Collieries June
24 490
20,840
121,438
131,960
30,527
20,037
July 1 to June 30___ ___ ____
417,660 _______
15,406
20,393
Rio Grande Junction.Mav
58.818
54,457
n 17,645
n 16,337
..........
Dec 1 to May 31___
;*78,009
260,034
7*91,510
305.036
14,969
7.748
Texas Central, a ____ June
60,171
58.485
a Figures for the month in both years include operations of the S cran ­
July 1 to June 30___
370,921
827,379
275,479 ton Ry., acquired Jan. 1 1906. h Total is from Mareh 1. r Th- • n
945,239
d These are results for main line, f De­
Union Pacific a. __ Mav 5,666,931 4,716,870 2,380,388 2,052,239 are for consolidated company
Julyl to May 31___ <
51.774,260 54,105,188 28,118,173 25,146.877 crease in 1905 due to strike and boycott, y Figures for both yenrs now
in American currency.
a Net earnings here given are after deducting taxes,
Street Railway Net Earnings.—In the following <
b Net earnings here given are before deducting taxes.
h For June additional income is 36,089 this year, against SO.648 last both the gross and the net earnings to latest daU of all
year, and from July 1 to June 30 additional income is 858,032 this year, STREET railways from which we have been abb i« - pi mn
against $58,651 last year.
monthly returns. As in the ease of tin* st*arn roads, the
k For June additional income is SI 7.088 this year, again*; $31.421 last
returns of the different roads are published by rs each week
year, and from July 1 to June 30 additional income is $188,486 this year,
as soon as received, and once a month we bring together all
against $147,987 last year.
n These figures represent 30% of gross earnings.
the roads reporting, as is done to-day.

208

[VoL.

TH E CHRONICLE
---- G ross Earn’gs---- ----------Net Earnings-----r
C u rren t
Y ea r.

Roads.
S
Albany & Hudson_a_ .Apr
21,305
July 1 to Apr 30___
278,946
Aurora Elgin & Chicago
(consol, company)„May
102,533
Binghamton liy Co ..June
30,252
Jan 1 to June 3 0 ___
138,406
July 1 to June 30___
291,943
Black River Traction Co—
Apr 1 to June 30----22,439
Bost & Wor St R y — June
49,758
Oct 1 to June 30___
323,000
Brockt’n & PlynTth_aMay
8,793
Cape Breton Elec Co. aMay
20,874
CentT Penna TractCo.May
57,357
Jan 1 to May 31___
254,748
CharlestonConsRyCo. June
55,612
Mch 1 to June 30___
210,487
Chic & Milw Elec___ June
84,555
Jan 1 to June 30___
331,873
Clev Paines v& East _aJune
27,257
Jan 1 to June 30___
113,887
Cleve & Southwest _ __June
59,058
Jan 1 to June 30___
289,277
Columbus RR Co.a_.M ay
17,140
Gas Lt Co of Col.a.May
2,188
Dallas Elec Corp. _a_ _May
83,369
Detroit United_____ June
522,395
Jan 1 to June 30___ 2,656,710
Duluth St R y_b_____June
66,999
Jan 1 to June 30___
356,237
East St L & S u b ___ May
162,740
619,211
Jan 1 to May 31___
El Paso El Co_a____ May
31,666
Jan 1 to May 31___
148,639
Ft Wayne & Wab Val.May
87,327
Jan 1 to May 31___
398,958
Galveston Elec.a___ May
27,721
Jan 1 to May 31___
107.296
Georgia Ry & Elec Co_Apr
235,372
Jan 1 to Apr 30____
912,169
HonoluluRT &LCo _ b_May
29,452
Jan 1 to May 31___
140,690
Houghton Co St Ry.a.M ay
f 18,212
Jan 1 to May 31___
79,937
Houston Elect C o.a. .May
49,176
Jan 1 to May 31
223,022
Illinois Traction Co_a_ June 236,868
Jan 1 to June 30___ 1,344,830
Jackson Consolidated .May
12,170
Jacksonville ElecCo. a .Apr
26,226
Jan 1 to Apr 30___
98,949
K C R y & Lt Co.a__.M ay
416,044
Jan 1 to May 31_____ 2,114,835
June 1 to May 31_____5,153,168
Lake Shore E lec.a__ May
67,793
Jan 1 to May 31____
300,208
_
82,571
Lehigh Val Transit_ Apr
Jan 1 to Apr 30___
397,229
Lorain St R y _________ May
12,067
135,242
June 1 to May 31___
Manila El Co Ry Dept June
43,250
Jan 1 to June 30___
262,000
Lighting Dept_____June
30,500
Jan 1 to June 30___
175,250
Mass Electric Cos.b—
Apr 1 to June 30___ dl ,860,142
Oct 1 to June 30___ 4,947,536
Milw Elec Ry & Lt.b.June
295,947
Jan 1 to June 30___ 1,651,866
Milw Lt Ht & Trac.b.June
65,672
Jan 1 to June 30___
292,822
Montreal St R y ______ June 287,595
Oct 1 to June 30___ 2,193,785
New Orl R y & Lt.b.June
446,277
Jan 1 to June 30___ 2,889,087
Norfolk Ry & Lt C o..A pr
58,222
Jan 1 to Apr 30___
230,389
Nor Ohio Trac & Lt .a.June
92,984
Jan 1 to June 30___
461,056
North Tex Tr Co______May
71,485
Oakland Trac Cons.b_Feb
118,996
Jan 1 to Feb 28___
240,618
Oklahoma City R y ___ Mch
11,369
Jan 1 to Mch 31___
29,830
Olean St R y .b _______ Apr
9,920
Jan 1 to Apr 30___
35,814
July 1 to Apr 30___
104.603
Orange Co Tract Co. .May
11,726
Jan 1 to May 31___
43,898
July 1 to May 31___
116,958
Peekskill Lt & R R ___ June
15,219
Jan 1 to June 30___
65,976
July 1 to June 30___
134,539
Pitts McK & G .b . .June
22,798
Jan 1 to June 30___
96,483
Portland Rys Co_____ May 144,563
Puget S'dElecRyCo.a Mch
48,933
St JosRyLtH &PCo.. .June
72,331
Jaiil to June 30-----392,726
S F Oak & S Jose R y . .Feb
49,083
Jan 1 to Feb 28___
97,391
Savannah Elec C o.a..M ay
53,173
Jan 1 to May 31___
245,784
Seattle Electric C o.a. .Apr
231,492
Jan 1 to Apr 30----917,760
Syracuse R T Co. b. .June
88,990
517,114
Jan 1 to June 30___
July 1 to June 30___ 1,027,141
Tampa Electric Co.a.M ay
38,483
Jan 1 to May 31----188,080
Terre H Tr & Lt Co. a .May
60,473
Jan 1 to May 31----294,290

P r e v io u s
Y ea r.

C u rren t
Y ea r.

S
21,122
249,261

8
6,104
69,648

$
6,771
59,623

91,730
26,226
123,503
261,123

46,803
16,105
63,261
141,054

41,764
14,265
56,516
124,262

20,934
45,508
280,699
8,721
17,668
50,636
210,806
53,572
196,553
53,218
211,973
23,941
99,415
48,558
237,375
15,221
1,872
72,439
457,898
2,323,351
55,456
304,741
144,135
561,279
23,823
115,049
74,062
340,657
22,252
95,974
202,331
752,339
28,502
132,273
cl0,993
c41,325
43,636
188,341
189,083
1,094,713
9,935
27,754
104,826
418,552
1,839,524
4,449,132
61,586
258,657
4,260
110,503

dl ,708,442
4,465,838
279,048
1,542,458
55,163
256,824
248,200
1,923,991

— G r o s s E a r n ’g s ------C u r re n t
P r e v io u s
Y ea r.
Y ea r.

P r e v io u s
Y ea r.

804
1,174
20,507
19,431
80,343
107,213
2,667
2,618
4,291
8,463
9,780
8,380
17,688
18,388
23,608
23,468
79,860
82,343
30,952
57,300
107,957
188,080
10,741
13,011
36,269
47,785
21,629
27,281
88,483
116,118
5,351
6,123
672
644
24,053
28,359
191,368
218,909
889,328
1,046,887
27,081
37,733
137,277
164,762
80,678
82,090
308,919
301,856
8,468
10,042
42,523
48,458
28,031
31,480
126,397
148,432
8,143
11,201
33,148
106,804
122,129
374,917
457,953
8,702
11,807
57,294
47,433
6,712 cdef 699
19,017 cdef 43,904
19,552
16,408
67,767
74,136
87,217
104,110
486,583
577,835
4,072
4,799
10.172
12,810
45,981
37,744
174,478
170,534
724,468
828,431
2,153,114 1,872,172
24,194
26,886
97,969
115,694
27,936
131,446
3,544
3,397
41,548
32,268
21,500
130,750
16,500
86,600

d664,910
d607,933
1,491,801 1,197,507
149,546
145,730
811,654
760,023
41,211
32,638
134,459
169,776
134,761
110,606
826,592
665,471
184,958
1,358,620
52,342
18,342
20,988
83,720
192,160
71,680
39,322
85,163
44,090
203,584
425,478
188,561
57,080
28,790
26,114
100,354
56,058
43,778
109,157
205,027
86,930
5,569
11,442
10,934
5,262
4,448
15,502
33,961
17,861
94,340
52,510
46,261
4,174
11,445
4,656
9,105
39,016
7,365
38,212
107,627
30,750
12,904
8,154
6,285
29,991
22,112
56,478
63,487
50,597
119,165
17,701
8,424
12,056
39,315
29,401
77,905
134,610
65,356
59,116
22,455
35,954
10,530
33,202
33,360
65,683
185,817
343,177
145,896
25,741
41,170
29,256
49,717
81,551
54.763
22,479
50,569
22,633
93,158
222,286
91,097
78,434
203,424
59,300
304,594
235,272
779,312
36,615
80,742
34,498
220,425
187,986
454,010
447,760
380,092
894,573
15,877
14,256
34,953
81,081
64,854
163,921
23,076
15,606
51,749
106,962
66,722
231,329

l x x x iil

------- N e t E a r n in g s -----C u r re n t
Y ea r.

P r e v io u s
Y ea r.

R oa d s.
S
%
S
8
Toledo Rys & Lt Co.a.June
178,110
163,226
89,759
82,379
895,792
Jan 1 to June 30___
962,500
453,655
432,057
Tol Urban &In terurb aJune
28,979
24,885
13,521
11,154
76,641
Jan 1 to June 30___
161,852
139,586
59,869
Toledo & Western__ Apr
18,588
17,790
7,436
7,761
72,600
Jan 1 to Apr 30___
63,568
27,299
21,315
Twin City Rap Tr_ b. .May
448,104
238,841
389,425
216,921
Jan 1 to May 31___ 2,070,018 1,778,941 1,071,180
917,268
United Rys of St L ..June
791,402
746,101
307,548
294,973
Jan 1 to June 30___ 4,400.267 4,046,087 1,675,984 1,346,908
Wash Alex & Mt V__June
30,527
20,037
16,139
§,616
60,932
121,438
Jan 1 to June 30___
131,960
51,865
Whatcom Co R y ___ May
20,393
15,406
7,025
5,364
a Net earnings here given are after deducting taxes,
b Net earnings here given are before deducting taxes.
c Decrease in 1905 due to strike and boycott.
d Includes earnings of Georgetown, Rowley < Ipswich St. Ry. Co. in
fc
both years.

Interest Charges and Surplus.— The following S T R E E T
railways, in addition to their gross and net earnings given in
the foregoing, also report charges for interest, &c., with the
surplus or deficit above or below those charges:
— I n t ., R e n t a ls , & c . --------- B a l . o f N e t E ’n g s .—
C u rren t
Y ea r.
R o a d s.

Albany & Hudson___ Apr
July 1 to Apr 30___
Aurora Elgin & Chicago
(consol, company).May
Binghamton Ry Co _ - June
July 1 to June 30___
Black River Traction Co—
Apr 1 to June 30___

P r e v io u s
Y ea r.

C u rren t
Y ea r.

P r e v io u s
Y ea r.

S
8,796
57,592

S
7,496
54,517

8
def2,692
12,056

%
def725
5,106

24,939
7,423
87,791

24,313
7,207
84,491

21,864
8,682
53,263

17,451
7,058
39,771

711
401
773
93
Brockt’n & Plym'th May ' 1,833
1,752
785
915
Cape Breton Elec Co .May
4,376
4,401
4,087
defllO
10,442
Charleston ConsRyCo June
10,452
13,016
13,166
51,917
Mch 1 to June 30___
51,917
30,426
27,943
1,914
4,234
1,889
3,437
Columbus RR Co___ May
Gas Lt Co of Col_ May
_
105
105
539
667
18,222
9,641
Dallas Elect Corp___ May
18,718
5,831
95,154
Detroit United
.June
93,364
£127,317
£101,628
Jan 1 to June 30___
553,924
£504,337
£358,030
564,176
17,534
Duluth St Ry
___ June
20,199
16,826
10,255
Jan 1 to June 30___
105,052
100,577
59,710
36,700
3,794
El Paso Elec C o _ .May
_
3,455
6,248
5,013
17,112
25,411
18,881
29,577
Jan 1 to May 31___
Galveston Elec Co___ May
7,035
3,976
4,166
4,167
Jan 1 to May 31___
20,833
12,315
Honolulu R T & L Co .May
4,848
£7,524
4,793
£4,226
23,938
£35,674
Jan 1 to May 31___
£25,335
24,186
Houghton Co St Ry._M ay
3,966
3,627
2,746 ddef 4,326
Jan 1 to May 31___
19,562
17,578
def 545 ddef 61,482
Houston Elect Co___ May
10,065
5,229
11,179
9,487
41,351
45,422
32,785
22,345
Jan 1 to May 31___
2,879
Jackson Consolidated.May
2,687
1,920
1,385
Jacksonville Elec C o..A pr
3,338
6,834
9,794
3,016
Jan 1 to Apr 30_ _
_
13,313
12,066
24,431
33,915
Lake Shore Electric. .May
20,404
20,404
6,482
3,790
Jan 1 to May 31___
102,020
102,020
13,674
def4,051
Mass Electric Cos—
Apr 1 to June 30___ e425,232
e239,678
e205,950
C401.983
273,941
20,042
Oct 1 to June 30___ 1,217,860 1,177,465
Milw Elec Rv&Lt Co. June
r79,041
£77,399
r76,993
£68,496
r514,404 r450,748
Jan 1 to June 30___
£317,043
£318,507
r21,568
£13,282
Milw Lt Ht & Trac. _ _June
r28,007
11,070
Jan 1 to June 30___
16,550
r 145,961 rll7,909
£24.233
52,034
29,514
82,727
81,092
Montreal Street Ry _ .June
319,008
199,168
507,584
Oct 1 to June 30___
466,303
New Orl Ry & Lt___June
155,123
29,835
442,334
Jan 1 to June 30----916,286
20,069
£l ,250
£5,194
Norfolk Ry & Lt _ -Apr
19,265
Jan 1 to Apr 30----80,120
76,555
£25,135
£13,674
21,352
22,738
23,017
North Ohio Trac Co. .June
16,305
136,072
137,602
67,512
Jan 1 to June 30___
50,959
9,942
Northern Tex Tr Co. .May
10,327
18,848
15,787
35,678
30,818
12,960
Oakland Trac Consol .Feb
20,380
71,357
37.800
25,627
Jan 1 to Feb 28----61,303
2,768
2,968
2,494
1,480
Olean St Ry
Apr
11,047
11,048
6,814
4,454
Jan 1 to Apr 30----26,878
25,632
26,868
July 1 to Apr 30-----19,393
4,442
7,614
Pitts McK & Greens. - June
23,359
Jan 1 to June 30___
15,956
£6,481 £def3,043
Puget S’d El Ry Co__ Mch
018,818
14,963
17,747
12,732
13,009
11,509
S F Oak & S Jose R y . .Feb
25,587
20,520
24,130
Jan 1 to Feb 28----34,243
12,686
10,554
9,793
Savannah Elec Co----- May
12,079
56,375
36,783
38,328
Jan 1 to May 31----52,769
24,764
51,358
Seattle Electric C o ._ .Apr
27,076
34,536
105,091
99,641
Jan 1 to Apr 30----199.503
135.631
23,373
20,368
13,242
14,130
Syracuse R T Co------- June
84,652
65,665
135,773
122,321
Jan 1 to June 30___
189,482
258,278
244,046
136,046
July 1 to June 30___
Nil
15,877
12,371
1,885
Tampa Electric C o .. .May
Nil
9,494
81,081
55,360
Jan 1 to May 31----3,520
15,048
12,086
8,028
Terre H Trac A Lt Co .May
42,904
18,106
64,058
48,616
Jan 1 to May 31----40,608
41,771
47,490
Toledo Rys & Lt C o.- June
42,269
253,814
199,935
178,243
253,720
Jan 1 to June 30----Tol Urban & Interurb June
9,715
3,806
119,712
128,249
Twin City Rap Tran. .May A:110,592
1-97,209
521,755
430,759
Jan 1 to May 31----- A*549,425 1:486,509
109,522
96,133
198,026
198,840
United Rys of St L — June
486,662
151,573
Janl to June 30----- 1,189,322 1,195,335
3,267
3,135
3,758
2,229
Whatcom Co R y------- May
a Fixed charges for March in 1906 but not in 1905, includes an appropriation for sinking fund on bonds.
d Decrease in 1905 due to strike and boycott.
e Includes earnings of Georgetown Rowley & Ipswich St. R y. Co. in
both years.
tm ^
k Charges include dividend on preferred stock.
r Charges include an allowance for depreciation.
x After allowing for other income received.

July 2i 190G.]

TH E CHRONICLE

ANNUAL REPORTS.
Annual Reports.— The index to annual reports is omitted
this week because of the publication of the “ Railway and
Industrial” section, which contains references to the reports
of the principal steam railroads and industrial companies
printed in the “ Chronicle,” n o t including to-day’s issue.
Hocking Valley Ry.
(S ta te m e n t fo r F i s c a l

Year

e n d in g

June

30 1906.)

The results for the year ending June 30 were:
1905-06.
Gross earnings----- --------------------- ..$6,439,809
. . 4.181,774
Operating expenses and taxes. _ .

1904-05.
$6,013,214
4.067,901

1903-04.
$5,725,483
3,852,620

Net earnings.......... ....................... ..$2,258,035
309,123
Other income----------------- --------- - . .

$1,945,313
382,231

$1,872,863
550,902

Total in c o m e ________ ________ -.$2,567,158
Fixed charges--------- ---------------- ._ $794,224
Dividends on common stock. 3% _. .
330.000
Dividends on preferred stock, 4 % .
600.000

$2,327,544
$899,693
330,000
600,000

$2,423,765
$1,019,171
330.000
570,000

$497,851

$504,594

Balance, surplus___
— V. S3, p. 95, 37.

_______

SS42.934

Calumet & Hecla Mining Company.
(R e p o r t f o r F i s c a l Y e a r e n d in g A p r i l

30 1906.)

209

Assets and Liabilities of April 30.
1906.
1905.
1904.
$■
Assets—
$
$
120,257
_
Cash at mine office_
133,047
116,917
15,000
Cash at N . V . office..
15,000
15,000
Cash and copper at
Boston office______ 7,817,994
6,496,133
5,939,001
Bills receivable at Bos­
ton and mine........... 1,140,122
590,212
451,521
Developing and equip­
ment fu n d ..a ------- 1,827,544
Insurance fu n d .........
990,859
927,034
757,691
Employee’s aid fund.
4,906
10,991
6,208

1903.
$
116,381
15,000
5,987,055
509,584
600,276
6,583

Total assets_______ 11,916,681
Liabilities—
408,862
Drafts and bills pay’le
878,000
Machin’y ,contr’ts,&c.

8,172,417

7,286,338

7,234,879

425,228
603,000

373,299
330,000

373,681
304,174

1,286,862
10,629,819

1,028,228
7,144,189

703,299
6,583,039

677,855
6,557,024

Total liabilities----Balance of assets___

a Since the establishment of the development and equipment fund
there has been expended §184,859 from it in exploration and develop­
ment of the Manitou Mining Co., Frontenac Copper Co., Nonesuch mine,
Superior Copper Co., Dana lands, Gratiot Mining Co., New Jersey Mining
Co., Manice lands. The above balance of the development and equipSuperior Copper Co.. Dana lands, Gratiot Mining Co., New Jersey Mining
ment fund (i. e., $1,827,544) is invested as follows: In various special
investments, $1,486,719; in cash in banks and trust companies, $340,825.

The capital stock is $2,500,000.— V. 81, p. 1552.
Westinghouse Electric & Manufacturing Co.
(R e p o r t f o r S i x Y e a r s e n d in g M a r c h

31 1906.)

President Alexander Agassiz June 20 1906 says in sub­
President Westinghouse in his report cabled from Paris
stance:
says in part:
General Results.— During the past year we produced mineral equal to
43.652 tons of refined copper, as against 43,090 tons last year. Our
product of refined copper was 50,526 tons; for the previous year, 42,822
tons. The price of copper lias varied from \ol cents to 19 cents per
A
pound. It is now about 18% cents. There have been paid two divi­
dends of $15 each and two of $10.
Development Work.— On the Calumet conglomerate the sub-shaft from
the 57th level northward has reached the 61st level, a length of over
1,000 feet. Some excellent ground has been developed by it. The
quality of the rock tributary to the Red Jacket Shaft has improved some­
what. The main body of the conglomerate mine remains as heretofore.
We are making extensive use of hard wood underground instead of pine;
this has materially lessened the cost of timbering. Large skips of the
capacity of 7 >2 tons have been introduced at a majority of the shafts on
the Calumet conglomerate. This has greatly increased our rock tonnage.
During March we sent to the mill 195,480 tons of rock; of this 27.018 tons
came from the Osceola lode. We are now obliged to run night trains to
the mills, and our rock tonnage is becoming so large that it will be neces­
sary for us in the near future to change our narrow track to the standard
gauge by adding a third rail and altering the locomotives.
The openings on the Osceola amygdaloid have been satisfactory.
No. 13 shaft has reached the 16th level and continues to open up good
ground. Openings at No. 16 shaft are excellent and have now reached
the 8th level. We have derived a substantial addition to our ingot
product and are now producing at the rate of about 6,000,000 pounds
per year from openings on the Osceola lode; we are stamping about 1,000
tons of rock a day from this lode and intend to increase this tonnage as
fast as practicable.
Since last May we have remodeled six of the Hecla Mill stamps, so
that we now have 23 modern stamps in commission. We have already
started remodeling the remaining five old heads to treat amygdaloid
rock and hope to have them in commission by May 1 1907. They will
have a capacity of 3,000 tons daily.
New Subsidiaries.— The stockholders at the last annual meeting
authorized the directors to avail themselves of a law recently passed by
the Michigan Legislature, permitting Michigan mining companies to
subscribe for. purchase and be interested in the stock of any other com­
pany formed for mining, smelting or manufacturing. This statute pro
vides a simple method for the rapid development of the mineral lands
of the upper peninsula of Michigan. Under this vote we have organized
the Manitou Mining Co., of which we own nine-tenths of the stock. The
territory controlled by this company amounts to 38,693 acres. The
Frontenac Copper Co. has also been organized to hold the mineral and
other lands we purchased from the Central Mining Co., the Manice lands
and other tracts in Keweenaw County. The territory owned by the
Frontenac Copper Co. covers 22,268 acres; we hold the whole stock of
this company. We have paid for the lands of the Frontenac Copper Co.
and the Manitou Mining Co. $704,946.
Options.— We have continued active exploration of the “ Superior”
mine, and have secured an extension of the option on 51% of the stock
until Dec. 31 1906. We have spent thus far $42,000 in exploring that
property. The “ Superior” has 400 acres. For $25,000 we have secured
an option on the “ Nonesuch” mine (640 acres) in Ontonagon County,
which expires in June 1907. We have also an option on a majority of
the shares of the “ Gratiot”' Mining Co., having 600 acres, with a probable
length on the line of the Kearsarge lode of 5,960 feet to a depth on the
slope of 2,540 feet. We have taken an option on the land of the New
Jersey Mining Co., which runs for two years, and contains 720 acres on
the mineral belt and 1,540 acres south of Lac LaBelle; also options on
other parcels containing approximately 2,000 acres on the mineral belt,
which are more or less surrounded by the present holdings of the Manitou
and Frontenac companies. We have also taken options on 51% of the
stock of the Caldwell Copper Co. and of the La Salle Copper Co., both
having two years to run. The Caldwell Copper Co. controls 520 acres
and the La Salle Copper Co. 840 acres next to the property of the Tecumseh Mining Co. Should we exercise our options for the purchase of the
New Jersey, Nonesuch and the control of the Superior, Caldwell, La Salle,
Gratiot and other options, there remains to be paid $1,555,000. The
purchase of some of these properties has given us a large supply of timber,
and we hope in time to find producing mines which may materially add
to our output . For these purchases and their development the directors
have laid aside, as a “ development fund,” the sum of $2,000,000, which
has been increased by $750,000 since April 30 1906.
Improvement and Development Fund.— It will be seen by the statement
of assets and liabilities that during the past year we have spent large
sums. Large outlays will also be made during the coming year at the
smelting works and shops in equipping the Hecla & Torch Lake RR.
and in broadening its gauge; in remodeling a part of the Hecla Mill, in
duplicating our water supply from the Lake Superior station, in erecting
a foundry, completing the electric power plant and distributing electric
power. All this is needed to carry on the mine with economy while
working on its present scale.

The results, assets, &c., for four years follow:
Operations, Dividends, &c.
1905-06.
1904-05.
1903-04.

The financial conditions are shown by the balance sheet as of March
31, and by the statement of income and profit and loss for the period
of six years intervening since the report submitted at the last meeting
of the stockholders, held Feb. 20 1901.
Keen competition with manufacturers in Europe and the usual diffi­
culty in starting new plants have thus far prevented returns upon the
money invested in these foreign enterprises, but it may be stated with
confidence that the business of each of these interests will in the near
future be brought to a condition which will make these investments
profitable.
The recent securing of important contracts, aggregating $6,000,000,
from the municipal authorities of St. Petersburg, Russia, for the con­
struction of electric tramways in that city resulted in negotiations be­
tween important French bankers, who controlled a suitable modern
electric manufacturing plant in Moscow. These negotiations have re­
sulted in the formation of the Societe Westinghouse Electrique de Russie,
organized under French laws,%to purchase these works and the electric
business which has been developed by the electric department of the
Societe Anonyme W^estinghouse of St'. Petersburg (the Russian Brake
Co.) on a most favorable basis, and which will cover all expenditures in
developing the electric department, besides increasing your assets by
nearly $1,000,000. The immediate working capital for this new com­
pany has been supplied by the financial interests referred to, and the new
company thus starts in business with large orders in hand under excep­
tionally favorable conditions, financially and otherwise, with a strong
board of direction and experienced Russian officials who have been iden­
tified with your affairs for several years.
There are furhter important pending operations which may soon re­
sult as favorably for your company as has the business in Russia just
referred to.

The report of Second Vice-President L. A. Osborne af­
fords the following:
Total Sales for Six Years ending March 31.
1905-06... $24,939,60211903-04.__ $18,569,61411901-02... $17,927,339
1904-05._. 16,570,71711902-03.-- 19,571,295 11900-01 . 12,516,072
For the first five months of the present calendar year the sales have
averaged about $2,850,000 per month, which, if maintained, as from
present indications may reasonably be expected, will make a total for
the year of above $34,000,000. The foregoing statement of sales does
not include the sales of the subsidiary companies the Bryant and Per­
kins companies, the Sawyer-Mann Electric Co. and the R. D. Nuttall Co.,
which for the fiscal year'1905-06 amounted to about $3,500,000. All of
these subsidiary companies show increases for the current fiscal year.
Results for Six Years ending March 31 1906.
Gross earnings___________________________________________ $114,618,537
Cost of shipments, incl. factory cost, deprec’n & gen .expenses 97,726,008
Net earnings__________________________________________ $16,892,529
Other income—
Interest and discount_________________________ $1,074,718
In t. arid div. on stocks and bonds owned________ 1,679,332
Miscellaneous, royalties, &c____________________
910,540
3,664,590
Total income___________________________________ ______ $20 557,119
Deductions from income—
Interest on bonds and debentures______________ $911,662
Interest and discount_________________________ 2,955,105
Tax on capital, commissions, &c______________
728,257
Accounts and bills receivable written o f f ________
187,469
Property and plant depreciated________________ 1,676,636
Stocks and bonds depreciated__________________
620,524
7,079,653
Balance........ ..................... ......... ............... ........................... $13,477,466
Other Prof it and Loss Credits—
Profit and loss surplus March 31 1900___________ $3,570,015
Premium on stock issue_______________________ 4,415,230
7,985,245
Gross surplus__________________________________________ $21,462,711
Profit and Loss Charge—
_
Dividends paid during six years to Mch. 31 1906..................... 9,922,069
Total surplus March 31 1906............ .....................................$11,540.642
For the five years ending March 31 1905 the financial statement
( V . 82, p. 216) certified by Haskins < Sells showed:
!
Sc
“ Average a n n u a l
net earnings of the company and its said subsidiary compani< jivailahlo
for interest and dividends, $3,626,388” ; such net timings, t l e - p - f u r e ,
for ! h-- ;’ /'/■/ • . !' ,i
;! .‘ i 11*.
I ll
interest and dividends for the eight months ended Nov. 30 1905 were
$2,488,641 .- -Ed.

1902-03.
Refined copper pro­
duced, pounds........ 101,051,799
85,644,401 76,620,145 76,632,912
Price of copper, cents,
per pound-. ------15J^@19 12>^@15H 1 1 ^ @ 1 3 ^ 11K@15M
The balance sheet of March 31 1906 we compare with that
Total dividends (per
for June 30 1904 (compare tentative balance of November
$20 |
$25 share................
$50
$45
$40
Amounting to............... $5,000,000 $4,500,000 $4,000,000 $ 2 , 000,000 1905 in V. 82, p. 216):

210

[You

TH E CHRONICLE.

Balance Sheet.
Assets—
------ March 31 1906------ June 30 '04
Factory plants at East Pittsburgh,
Allegheny and Newark________ $10,630,177
Other real estate________________
448,178
Total property account___________________ $11,078,355 $10,047,615
Cash
v
938,900
Subscriptions to 5% conv'ble bds_ . 2,031,817
Accounts and bills receivable____
7,414,600
93,102
In t. and divs. accrued, not due___
Haw materials, supplies and work
in progress___ ________________ 10,836,994
Completed apparatus on cons'ment 1,046,499
Total quick assets________________________
Stks.&bds. of sub. American cos__a$5,191,147
Stks.&bds. of foreign companies--510,661,542
Stocks and bonds of Lackawanna &
Wyoming Valley Rap. Tran. Co_ 6,300,000
Miscellaneous securities__________
434,501

28,361,912

18,739,349

Total investments in other companies______ 22,587,191
Charters, franchises, patents, office furniture,
insurance prepaid, &c____________________
7,034,537

15,134,501
5,457,012

$69,061,995 $49,378,477
Total assets_____________________
Liabilities—
$3,998,700 $3,998,700
Preferred_____________________ _____
20,996,350 18,490,700
Assenting_________________________
3,650
3,650
Non-assenting_____________________
15,000,000
' Convertible sink, fund 5% gold bonds
2,679,000
2,500,000
Debenture certificates_______________________
Collateral notes'_____________________________ c6,000,000 c2,000,000
Current Liabilities—
Bills payable____________________ $7,157,000
Deb. certs, to be retiredJuly 1 '06.
100,000
Accounts payable________________ 1,482,820
9,022,653 10,544,678
282,833
Interest accrued, not due________
Profit and loss surplus______________________ d ll ,540,642 11.661,749
$69,061,995 $49,378,477

Total liabilities

a Includes the manufacturing companies, of which over 95% of the
entire capital stock issue and all bonds are owned by this company.
Par value, $7,210,900. b Includes operating manufacturing plants in
Canada, England, France and Russia, and selling companies with valuable
patent rights in Germany, China, Japan and other foreign countries;
par value, approximately, $13,750,679. c Secured by Lackawanna &
Wyoming Valley Rapid Transit Co. bonds. See V. 78, p. 51; V. 79,
p. 275, 511;
V. 80, p. 2464. d Subject to dividend payable
April 10 1906.
Note.— The company has a contingent liability as guarantor of $850,000
bonds of the Walker Co., due 1916, secured by mortgage on property
and plant of the Walker Foundry Co., Cleveland, O.— V. 82, p. 1384.

Dominion Iron & £teel Co.
(R e p o r t f o r F i s c a l

Y e a r e n d in g M a y

31 1906.)

The report of the directors, which was read at the annual
meeting held in Montreal on June 28, says in substance:
Construction Work, Improvements.— Considerable progress has been
made in the improvement and completion of the plant. The principal
work done has been the installation in the power station of two additional
generators of 600 k. w. each; the completion of 100 additional coke ovens;
the installation of mining machinery at Wabana for underground work;
and the erection of trestles for handling and storing coal at the open
hearth and the washing plant.
We are preparing to erect a plant similar to that used in the production
of Bessemer steel, for the preliminary treatment of pig iron, in order
thereby to shorten the open-hearth process, which would increase the
tonnage of open-hearth steel and decrease costs. It is expected that this
will be ready by next spring.
Operations.—-"During the past six months the output has been much
increased. The total sales for the year were as follows:
Tons.
Tons.
Pig iron___________________ 25,393 Rails . . .
101,245
Billets and blooms_________ 17,145 Wire rods
45,553
The production in the rail mill fci May, 15,046 gross tons, was the
largest monthly tonnage reached; but it has been demonstrated that the
capacity of the mill is 22,000 to 25,000 tons per month.
The rod mill in January rolled 7,300 gross tons of wire rods, but we
have unfortunately been unable to operate this mill continuously, as the
production would exceed the consumption in Canada. Your directors
are hopeful that before long the Canadian mills will be able to manufac­
ture the wire which is now imported, and thereby provide a market for
our full production of rods.
Earnings.— The profit and loss account shows earnings that, after pay­
ment of all interest charges and of the sinking fund on the first mortgage
bonds, leave a surplus of $652,595. For the first four or five months "of
the year we earned little more than our fixed charges, and the surplus
shown has practically been earned since October. Your directors are
confident that further improvement will be made in the year now begun.
Bounties.— The bounties on our pig iron and steel ingots will, on 1st Juty
next, be reduced to 70 cents and $1 05 per ton respectively, and unless
extended they will cease altogether on the 30th June 1907/ We derived
from these bounties during the year $638,653; on the reduced scale of the
coming year, if the average production of the past six months is main­
tained, they would amount to $491,605.
Your directors haY'e applied to the Government for an extension of the
bounties. They feel that the company has strong claims for considera­
tion. The present position and prospects of the company, as regards
the condition of the plant, the organization, the training of skilled labor,
the output, costs and earnings, all warrant the belief that an extension
of the bounties would carry the company through the period which must
still intervene before its output and costs reach their proper level, and
thus place the important works at Sydney on a sound and permanent
foundation.
Organization.— Graham Fraser retired from the service at the beginning
of November, and it was thought best to revert to the original organiza­
tion of a General Manager, with a General Superintendent under him
having charge of the practical operation of the plant. These offices have
been filled by the appointment of F. P. Jones as General Manager and
C. II. MacMillan as General Superintendent.

President Plummer also said:
Production.— As to the output, the improvement has gone on very
steadily since November and December. Speaking roughly, we have
brought the production of steel up from 14,000 tons a month to 20,000
tons a month, and the costs have naturally been improved. We have
suffered in costs a little by the unexpected increase in the cost of a
number of the materials we use. We are using altogether pig iron from
Wabana ore for the steel from which our rails are made, but we have to
add manganese and other things, and these materials have gone up
largely in value.
As to the capacity of the rail mill, it is larger than the steel we are
able to send to it to"be rolled, so that we have plenty of spare capacity,
and if the tonnage is enlarged, as we hope it will be this coming winter,
we can still take care of it without any trouble.

l x x x u i,

Sinking Fund.— The sinking fund on first mortgage bonds is one year
behind. We should have bought $56,000 worth of bonds last July,
and in addition there is the accruing sinking fund from 1st of April last
to the 31st of May of this year, and that makes the total sum of $110,000.
On the second mortgage bonds there is no sinking fund. The bond itself
matures, and we have to pay, or be in default. As to the first mortgage
sinking fund, we will call within the next few days for tenders for last
July's instalment, and before long we hope to be able to call for the instal­
ment for this July, so as to clean that up entirely.
Accumulated Prefe'/red Dividends.— The suggestion of a re-arrangement
of the securities of the company has never been discussed by the board,
and, speaking for myself and for members of the board with whom I have
informally discussed it, I can say that the matter does not seem to us
one that we can take up now with advantage. It is clearly, I think,
opposed to the interests of the preferred stockholders themselves that
money should be borrowed to pay arrears of dividends. To put out any
kind of a supplementary mortgage bond really means placing an addi­
tional interest charge before the preferred stockholders. Before long we
should be able to begin paying the current dividend on the preferred
stock, and as time goes on and our earnings improve we can catch up the
back dividends. Looking at the matter solely from the point of view of
the preferred stockholders, I think there can be no question that that is
the best policy.
Income Account.
Calendar
Year ending 5 mos. ending
May 31 '06. May 31 ;05. Year 1904.
$
$
1,396,570
124,755
Profit on s a le s ____
366,063
Rents, &c__
_ _ _
...
9,408
9,736
4,796
Total net in c o m e ___ __
Deduct—
Interest on first mortgage bonds__
Interest on second mortgage bonds
Interest on current loans7 __
_ _
Sinking fund first mortgage bonds.

1,406,306

370,859

134,163

390,821
122,572
181.139
59,179

164,084
30,779
81,048
23,416

393,800
10,079
183,088
56,200

Total deductions
______
Balance surplus.
_____
Profit and loss def. begin’g period.
Profit and loss def. end of period..

753,711
652,595
1,021,709
369,114

299,327
71,532
1,093,241
1,021,709

643,167
def509,004
584,237
1,093,241

1906.

1905.
20,oob,000

1906.

Balance Sheet May 31.
1905.

A.ssets__
$
Prop, and con st..35,628,342 34,705,463 Common stock. 20 000,000
Cash, accts.rec.&c. 1,302,410
587,526 Preferred stock.
5. 000.000
250,540
Raw material___
371,2061
First mort. bonds. 7 811,000
Manufactured prod
402,925
330,232 Second mort.bonds 2 ,178,000
Warehouse m at_
_
274,932
251,277 C. B. real est. bds.
55,834
Materials in pro­
Int. accrued on 1st
212,822
mortgage bonds.
cess, &c_______
220,403
162,729
Ins., & c., paid in
Int. accrued on 2d
advance----------11,437
27,472
mortgage bonds.
23,907
Special deposits at
Bills payable_____ ,963.570
M ontreal______
317,847
528,818 Accounts payable.
292,757
Profit and loss ac­
Sinking fund 1st
mortgage bonds.
count debit____
369,114 1,021,709
110,696
Relining and re­
placement funds
152,622
Suspense account.
26,837
T o t a l_________ 38,777,952 38,036,525
— V. 82, p. 1500.

Total .

5,000,000
7,876,000
1,631,500
65,833
164,083

16,608
2,873,222
215,492
107,717
86,070

-38,777,952 38,036,525

Nova Scotia Steel & Coal Co., Limited.
(R e p o r t f o r F i s c a l Y e a r E n d i n g D e c . 31 1905.)
President R obert E. Harris, in his report presented at the
annual meeting on March 28 1906, says in substance:
The volume of the general iron and steel business transacted during
the past year was very considerably larger than that of any previous
year, the "increase being 28,825 tons, and in value being $597,887. From
bur steel department we shipped 28,225 tons of finished material. The
quantity of pig iron sold was also very much larger than the previous
year, amounting to 28,723 tons.
Work on our open-hearth plant at Sydney Mines was continued during
the first half of the year, and in the latter part of July the plant, consist­
ing of three 40-ton furnaces and a furnace mixer, capable of holding 140
tons of fluid metal, was put into operation and has proved itself capable
of producing steel at a lower cost than the original plant at Trenton.
We have orders on our books for a much larger tonnage of both steel
and pig iron than ever before, at higher prices than prevailed during last
year. The quantity of coal mined was 58,141 tons over that of the
previous year, and the company still maintains its position of second
largest producer of coal in Nova Scotia. During the year extensive sub­
marine iron ore areas were acquired at Wabana, Newfoundland, which
your directors hope will prove a valuable asset of the company.
The profits for the year were $559,907 and the balance brought forward
from last year was $695,750, making a total of $1,255,656 at the credit
of profit and loss account on the 30th December 1905, which has been
dealt with in the manner submitted by the accounts herewith.
The regular dividend of 8% per annum on the preferred shares has been
paid quarterly.
The sum expended in completing the open-hearth plant at Sydney
Mines, and in other additions and improvements to plant at Sydney Mines,
Trenton and Wabana, and in acquiring the submarine iron ore areas at
Wabana amounts to $677,711. Against this expenditure there was
available a sum of $251,065 due on the consolidated bond issue, which in
the statement of last year was included in the assets under the heading of
‘Cash, ledger accounts and bills receivable."
Your directors do not propose to make any further issue of securities
or to increase the capital stock to cover the expenditure made on capital
account, but in view of this expenditure and the larger working capital
necessary, owing to the increased business, it is considered best, in the
interests of the shareholders, not to declare any dividend on the common
stock at the present time.
It is not proposed during the coming year to expend any large sum on
capital account , and the management will make every effort to make the
plant recently installed, as well as all other departments of the business,
as productive as possible, in order that the payment of dividends on the
common stock may be resumed as soon as practicable.

The results for three years compare as follows:
Profits for the year---------------------Balance brought forward--------------

1905.
$559,906
695,750

1904.
$501,337
685,643

1903.
$859,398
453,149

Total available------------------------- $1,255,656
Deduct—
$229,427
Interest on bonds-----------------------18,750
Accrued interest on bonds-----------64,304
Depreciation and renewals-----------82,400
Dividend on pref. stock (8 % )_----Dividend on common stock----------65,450
Sinking fund and miscellaneous. ._

$1,186,980

$1,312,547

$150,000

$150,000

50,000
82,400
(3)144,690
64,140

75,000
82.400
(6)246,804
72,700

$460,331
$795,325

$491,230
$695,750

$626,904
$685,643

Total------------------------Surplus, carried forward

T1IE CHRONICLE.

J u l y 2S 1906.]

BALANCE SHEET DEC. 31.
1905.
1904.
1904. |
.
—
3
$
S
l LiabilitiesA $S€tS‘ —
b
.359,436 Preferred stock— 1,030.000 1,030,000
Property & mines. 11,037,140
Common s to c k __ 4,910,300 4.939,300
Improvements, de­
Bonds.................... 3.S38.000 3,890.500
velopments and
General reserve__
750.000
750.000
explorations to
Sinking fund........
162,397
109,942
be charged to fu­
331,414 Bills pay. & cash
333.014
ture operations.
544.050
171,319
advanced_____
910,072
902,626
Inventories-------Pay-rolls&acc't pay 174.557
125.915
Cash, ledger ac­
Coupons (Jan.)__
75,000
75,000
counts and bills
20,600
20.000
812,571. Div. on preferred.
l oo. :3i
receivable------Aco’d int., not due
18.750
Kes. for depr’n.Ac. 628.326
574.415
l ire ins. fund____
28,759
23.309
Profit and loss___
795.325
695.750
1905.

Total..............-1

406.0501

T o ta l................ 13.030.064 12,406,050

-V. 82. p. 690.

American De Forest Wireless Telegraph Company.

0S ta tem en t J u l y 1906.)
The following information has been furnished or revised for
the “ Chronicle” :
The company was incorporated in Maine in December 1902, and early
in 1904 absorbed (per plan in V. 78, p. 230) the International Wireless
Telegraph Co. and tlie De Forest Wireless Telegraph Co. (previously the
parent company). The company also owns 25,000 shares of the capital
stock of the De Forest Wireless Telegraph Co., Limited, of England,
55% of the share- capital of the Atlantic De Forest Wireless Telegraph
Co. vSl.000,000 authorized) and $600,000 of the $1,200,000 capital stock
of the Dominion De Forest Wireless Telegraph Co. of Canada.
Capitalization
Authorized and
Outstanding .

Common stock in shares of $10 each______________________ $11,500,000
Preferred stock 7%c cumulative, par of shares $10__________ 3,500,000
1st M. 6% bonds of 1904 due 1924, convertible inot pref. stock
prior to Feb. 1 1910 (see V. 80, p. 1113)_________________
500,000
Abstract of Letter Written by President White June 26 1906.
Our company is now practically out of debt. Our patents, stations,
good-will. &c..' are rated at $15,500,000. We have received during the
past year securities of the par value of $2,500,000 from subsidiary com­
panies formed in this country and abroad, and these securities, paid to
our company for rights and privileges, are now in our treasury. We have
a bonded debt of $500,000. consisting of 6% 20-year bonds. Current
bills do not amount to $10,000. as we are discounting our bills for supplies
and meeting our pay-rolls promptly. There has been expended in cash
$1,250,000 in connection with these wireless enterprises represented by
the De Forest system, and our showing is indeed a remarkable one. We
own upwards of 150 patents; in fact, the number is now nearer 200, and
all our stations throughout the world erected by this company and its
subsidiaries are paid for and free from debt. We have fulfilled every
Government contract that we have undertaken. The test made of long­
distance wireless across the Atlantic Ocean was successful, as announced
on April 8 last (see below—Ed.). We are increasing our laboratory
facilities, and progress is being steadily made all along the line.
D e Fores
Pennsylvania.
Maine.
Philadelphia,
Portland.
Lancaster,
Massachusetts.
Pittsburgh.
Boston.
Virginia.
Springfield.
Norfolk.
Rhode Island.
D ist. oj Columbia.
Providence.
Washington.
Connecticut.
North Carolina.
Hartford,
Cape Hatteras.
Bridgeport,
South Carolina.
New Haven.
Charleston.
New York.
X.Y.City, 42 B ’way , Florida.
Manhattan Beach. Key West.
Georgia.
Buffalo,
Syracuse (building), Atlanta,
Savannah.
Quogue. L. I.
Alabama.
New Jersey.
Mobile.
Paterson.
Louisiana.
Atlantic City,
New Orleans,
Galilee.
New Orleans (city)
Maryland.
South West Pass.
Baltimore.

Stations.
Texas.
Galveston,
Austin,
Dallas,
Houston,
Waco,
Pt. Arthur (b’ ld’g),
San Antonio (b’ld’g),
Sherman (building),
Missouri.
Kansas City,
St. Louis,
Ohio.
Cleveland.
Illinois.
Chicago,
East St. Louis.
Michigan.
Port Huron.
Kansas.
Dodge City.
New Mexico.
Albuquerque.

Indian Territory.
Tulsa (building).
Wyoming.
Cheyenne.
Colorado.
Denver.
Colorado Springs,
Cripple Creek,
Trinidad,
Port Collins.
California.
Los Angeles.
San Francisco.
San Diego.
Cuba.
Havana.
Canada.
Ottawa,
Quebec.
Montreal,
Toronto.

211

Marconi Wireless Telegraph Co. of America.

31 1906.)
Secretary J. Bottomley, March 24 1906, says in substance:
(.R e p o r t f o r F i s c a l Y e a r E n d in g J a n .

General Results .—The commercial application of the Marconi system
is making most satisfactory progress in ail parts of the world. The chain
of stations, New York Harbor to Cape Race, Newfoundland, is now
completed, and, by this chain, incoming and outgoing truns-Atlantic
steamers are in communication for a period ol about sixty hours prior
to arriving at and after departure from New York Harbor. Arrange­
ments have recently been completed whereby tne principal passenger
steamers of the Cunard, Hamburg-American, North German Lloyd and
French lines have, in addition to the regular Marconi apparatus, been
fitted with long-distance receivers, so that these vessels, ol which 13 are
so fitted, can be reached at all times during the voyage across the Atlantic.
Receipts from this source and from our regularly equipped vessels, of
which there are over 70 now enjoying the advantage of the Marconi
system, have increased argely this past year, and in handing in the
balance sheet for the past year our auditors, Menzies, Fawcett, Tod & Co.,
write: “ The station expenses and general expenses in the aggregate
remain about the same, out the station and steamship receipts are. more
than double those of last year." We have found it necessary to increase
tne capacity of our works and assembling room, and during the past year
the profit in this branch of the business shows three times more than that
of 1904-05.
Litigation .—The action against the De Forest Wireless Telegraph Co.,
mentioned in the last annual report, was decided by Judge Townsendr
who, in May last, handed down a decision holding that the Marconi
patents cover the aerial and ground connection in conjunction with what
is termed “ an imperfect contact," and an order giving to this company
the right to an accounting for all profits made by the sale or leasing of
instruments coming within the above definition was made, and this
accounting is now going on before the master. In connection with the
action an injunction was issued by the United States Circuit Court by
Hon. Melville W. Fuller, Chief Justice of the United States, enjoining
the DeForest Wireless Telegraph Co. from using or offering for sale
“ any system of wireless telegraphy, or apparatus used therefor, by which
electrical signals are transmitted and received, containing, embodying
or employing the said inventions and improvements or discoveries granted
by and particularly claimed in the said third and fifth claims of said
re-issued letters patent, or from infringing upon or violating the said
claims of said re-issued letters patent in any way whatsoever."
A new action has just been commenced by us against the users of
other forms of apparatus which, we are advised, infringe our patents,
and we have every reason to believe that in this action we shall be as
successful as in the action first above alluded to, which is looked upon
as a great victory for this company.
BALANCE SHEET JAN. 31
1906.
1905.
1906.
1905.
$
Liabilities—
$
Assets—
$
%
Patent rights, good­
Capital stock issucd_6,190,000 6,190,000
will and contracts.5,473,364 5,468,494 Notes payable,$4,8Q0
each payable Nov.
Cost of stations and
experimental work,
| 1st yearly________
14,400
19,200
Accounts payable
5,539
less for deprec’n__ 160,525 204,4231
9,065
Apparatus on hand. _ 20,668
15,9061
Unexpired insurance.
616
Accounts receivable. _____
14,840
Cash______________
______
54,581
Furniture & fixtures.
1,291
1,178
Treasury stock____ 290,000 290,000
Organization exp..sal­
aries, &c., less rec. 257,475
168,843
Total____________ 6 209.939 6.21S.265

Total

6,209,939 6,218,265

The report of the English company, the Marconi Wireless
Telegraph Co., Limited, for year ending Sept. 30, 1905,
made public in March last, said in part:

REPORT OF ENGLISH COMPANY.
General Results.—The profit on the year's working again shows an increase the
net profit being £16,750 as against $12,681 for the year ending Sept. 30 1904.
There is, therefore, for the year a return on the issued capital of about 7%, which,
with the balance carried forward from last year of £12,681, would be sufficient
to pay a dividend of about 12%. In view however, of the large expenses for
development, it is thought inadvisable for tne present to make any distribution
to the shareholders.
The company is making satisfactory progress all over the world and the organiza­
tion for carrying on the business is being extended wherever profitable traffic seems
likely to result and concessions can be secured. It will be readily understood that
in many instances your directors are unable to give particulars of advantageous
contracts. This is especially the case with regard to contracts with foreign govern­
ments .
Improvements.— Important improvements have been made by Mr. Marconi
United States Government (D e F orest) Stations.
year. Notably, complete specifications
Navy stations. There are 27 of these along the Atlantic Coast from during the pastinvention by means of which the waves,have recently been filed for
patents for an
instead of radiating with
Cape Cod to Colon, 2 in the West Indies, 3 in California, 5 in the equal strength in ail directions, are primarily confined to a particular direction,
making it practicable not merely to direct the waves, but to localize the position
Philippines, &c.; total, 37.
United States Army Stations—Benicia Barracks, Cal.; Fort Han­ of a ship out of sight of land working wireless telegraph apparatus.
Trans-Atlantic Communication.—The new station in Canada has been working
cock, Tex.; Fort H. C. Wright, N. Y.; Fort Leavenworth, Kan.
satisfactorily day and night for many months past. The station has been thor­
oughly tested by transmission of messages to England, and the directors are satis­
Steamers Equipped with the D e Forest S ystem .
fied that the difficulty of transmitting signals in bright sunlight has been surmounted,
Mallory Line_______ 3 Ocean SS. (Savannah)4!Royal Mail S.P. Co__5 and that a good and regular service can be maintained. A new station, practically
identical with that in Canada, is in course of erection in Ireland: affording with tlie
Quebec SS. Co_____ liStandard Oil Co____ 5 Munson Line________ 1
X . Y . A Porto Rico._2
(also four barges)
J. M. Guffey Pet. Co.5 Canadian station satisfactory commercial communication between the l nited
Kingdom
in Ireland has
Red “ D " (Venezuela)-2 Panama R R _______ 5 iYachts_____________ 3 Canadian and America. The erection of the station cation between been delayed
station satisfactory commercial commun
the United
Maine SS. Co_______ 2 B. & O. tug_________ 1 ! (Lysistrata, Anona
through difficulties in securing a suitable site for which Government sanction could
United Fruit Co____ i Ward Line______ ^___li
andWakiva.)
be obtained; it is however, anticipated that the station will be ready for commercial
working before the end of the present year (1906.)
(The yacht Lysistrata is owned by James Gordon Bennett).
Great Britain.—Considerable developments have taken place In the use of the
“ The company's station at Syracuse, shortly to be cermpleted, will Marconi system throughout His Majesty’s Navy, particularly in connection with the
connect with the Lake ports and stations in Canada, making a complete transmission of messages over long distances to ships at sea from the company s
chain between the principal Canadian stations and New York City." high-power station in Cornwall. A contract has been entered into with the Board
Trade and Trinity
the equipment of lightships
The Canadian Company has a contract with the Dominion Government. of A bill to extend for House for the Wireless Telegraphy Act round the coast.
of
The coast stations of the United States Government are used, in connec­ second reading in the six years Commons. Under the existing1904 has passed the
House of
Act, which expires
tion with the aforesaid steamships, for the obtaining and disseminating this year, no wireless telegraph working can be carried on in the United Kingdom
of information for the Weather Bureau.
or in territorial waters without the license of the Postmaster-General.
Your company’s stations for shipping work are adequate for its purposes, and its
Trans-Atlantic M essages .—President Abraham White on April 7 made
general position with regard to wireless working in the United Kingdom is dciinou
public the following:
“ I wish to announce the successful transmission of aerographic com­ by an agreement with the Postmaster-General entered into before the bill of 1JU4
munication across the Atlantic Ocean direct, without a single delay, became law.
Canada.—Our relations with the Canadian Government continue excellent.
from Manhattan Beach wireless station, employing 40 k.w. at the rate New stations have been equipped, particularly one at Sable Island having a range
of 20 words a minute, to a point on the other side of the Atlantic in Glen- of about 500 miles, and specially useful for ships following the Southern route.
Foreign
government service
stations to
gariff Harbor, County of Cork, Ireland, where Dr. Lee De Forest received sea fitted Governments.—The apparatus has been from coastto meet the snips at
with the Marconi
extended
accurately and clearly the messages recently aerographed to him. The demands of the Italian Mercantile Marine. The erection of the high-powergrowing
station
following confirmation was received by me on April 6 from Dr. Lee De at Coltano for the Italian Government is proceeding. Seven stations nave been
Forest: ‘Messages being read clearly; trans-Atlantic wireless now erected In China for inland work. Estimates for the stations required >
y
Chilian Government are under consideration. A concession has been gran tea tor
assure d ”
Sate to Subsidiary .— The company sold recently, for a sum stated to wireless telegraphy throughout the Dutch East Indies to persons under contiad
,
.
be $1,000,000. its entire Pacific Coast plant and right- to a subsidiary with the company.
v e been arqumc
company known as the Oriental & Occidental Wireless Telegraph Co., onNew Works. Freehold works at Dalston, valued at £*2,000. h ahave been und
The works at, Chelmsford, which
highly favorable terms.
which was incorporated in Maine on Feb. 9 1906 with $2,000,000 Insufficient for the company’s requirements, will shortly be closed and the whole
capital stock. The transfer includes all rights on the Pacific Coast manufacture carried on at Dalston.
Steamship Service. The international organization of ship anri shore t rations
and in Nevada, extending as far north as Alaska, and taking in. the
of the
for sea telegraphy has again been greatly extended. [ I hen ffili h a list s. Co.,
Pacific Ocean, Hawaii. Guam, China and Japan, together with th right steamers now equipped with ..........
•
- the Marconi system, '"■’ •ding 12 of ( unard 8
*.... includ
to manufacture on the Pacific Coast all instruments needed in tie- estab­ 1 of
a. 0 of Prench
German Lloyd, 17
International Mercantile Marin
lishment of stations. Headquarters will be in San Francisco. OnL-rs Line.NorthHamburg-American,of of IIolland-Amerlcan L c*. 10 ( Belgian Ma
6 of
6
ion •d .stance
are said to have been issued for th'- establishment of new stations at Packet Co., 20 various cornpan ies; total, 81, of which 10 fitted v
Sacramento, Eureka, Santa Barbara, Stockton and Fresno, and it is receiving apparatus.— E d.1
On Sept I L9l
the intention of the company to extend its chain of stations as far
shares, numbered 1
251.127
north as Alaska as soon as the work can be done and the instruments that 251.127 Exchange list. Aftertothe close Indie
official Stock
of th
turned out.
made an offer of 128,063 shares to the shareholder.'
Directors—President Abraham White; Vice-Presidents Dr. Lee De guaranteed by7a group in which ix of y<» • direct
Jja
to t
F o r e s t B o g a r t , C. C. Wilson; Secretary and Treasurer, F. X . Interested, the consideration being, aniop
30 . e hi
Butler.

THE CHRONICLE.

212

Shareholdings in Associated Companies .— S p e c i a l a t t e n t i o n I s d r a w n t o t h e I t e m
“ s h a r e s in a s s o c ia t e d c o m p a n i e s " o r t h e p a r v a lu e o f £ 1 ,4 3 9 ,2 8 5 , “ a c q u i r e d u n d e r
a g r e e m e n t s , " w h i c h a r e t a k e n In t h e b a l a n c e s h e e t a t o n l y £ 6 2 , 2 8 6 1 6 s . 4 d . , v i z , :
3 5 ,2 0 0 fu lly - p a id s h a r e s o f $ 1 0 0 e a c h o f th e M a r c o n i W ire le s s T e le g r a p h C o . o f
A m e r i c a ; 6 3 5 , 2 8 5 f u l l y - p a i d s h a r e s o f $ 5 e a c h p f t h e M a r c o n i W i r e l e s s 't e l e g r a p h C o .
o f C anada
L i m i t e d ; 1 0 0 ,0 0 0 f u l l y - p a i d s h a r e s o f £ 1 e a c h o f t h e M a r c o n i I n t e r ­
n a t io n a l M a r in e C o m m u n ic a t io n C o ., L i m it e d ; 0 8 b e a r e r s h a r e s (p a r t s b e n e fic ia r ie s )
o f n o c a p it a l d e n o m in a t io n o f t h e C ie . F r a n c a is e M a r it im e e t C o lo n ia le d e T e le g r a p h le
s a n s fll.
i • I t Is a n t i c i p a t e d t h a t w h e n t h e t r a n s - A t l a n t i c s t a t i o n s a r e o p e n e d f o r c o m m e r c i a l
w o r k , s u c h o f t h e s e h o l d i n g s a s t h e c o m p a n y Is p r e p a r e d t o s e ll w i l l b e m a r k e t a b l e
a t p r i c e s w h ic h w ill r e p r e s e n t s u b s t a n t ia l p r o f it .— V . 8 1 . p . 2 0 9 .

[V O L . LX X XIII.

which also purchased the property of the Carolina Land &
Lumber Co. for $26,000. The road is 11 miles in length,
extending from M onck’s Corners to New England City. The
property was sold under foreclosure proceedings brought b y
Albert E. Turner of Massachusetts.— V. 83, p. 154.
Brooklyn City R R . Co.— New Mortgage Filed.— The new
refunding mortgage has been filed to the Long Island Loan
& Trust Co., as trustee, to secure $6,925,000 4 % 50-year
gold bonds, to run from Aug. 1 1906 to Aug. 1 1956, and re­
deemable at 110 after July 1 1915 at option of com pany.
Compare V. 82, p. 1436.

K ings County Electric Light & Pow er Co., Brooklyn, N. Y .
{Statement for Year ending Dec. 31 1905.)
The statem ent made to the New Y ork Stock Exchange
some m onths ago «upon the listing of $3,200,000 additional
Buffalo Terminal Association guaranteed Note Issue, cfee.
capital stock (making the total stock $ 8 , 2 0 0 , 000 ) permits
— See Wabash R R . below and in V. 83, p. 157.
the follow ing com pilation:
Canadian Northern Ontario R y .— Guaranteed Securities.
•■
I n c o m e A c c o u n t.
— This com pany, an enterprise allied with the Canadian
1905.
1904.
1903.
Net earnings of Edison Co. transf’d $437,871
$660,501
$475,323 Northern Railway, it is reported, will issue 3J^% bonds or
Int. on guar, fund, deposits, &c._
46,758
46,927
46,956 debenture stock, due July 10 1936, at the rate of $20,000 per
$707,428
$522,279 mile upon its 268 miles of road between Toronto and Sud­
Total net income____ ____ ____ $484,629
Dividends____________________ (8)400,000 (8)321,508(7^)237,364 bury, the issue being secured by deed of trust to the National
Legal expenses and damages-------10,000
Trust Co. of Toronto and the British Empire Trust Co. of
$385,920
$284,915 London, and guaranteed principal and interest b y the
$74,629
Net surplus_________________
Ontario Government. The road, it is said, is almost com ­
Balance Sheet Dec. 3 1 .
pleted.— V. 83, p. 154.
1904.
1904.
1905.
1905.
Liabilities —
Assets—
$
S
$
S
Chicago Burlington & Quincy R R .— Called Bonds.— The
3 ,2 4 3 ,3 2 1
5 .0 0 0 .0 0 0
P r o p e r t y _____
3 . 2 5 3 , 8 6 3 C a p i t a l s t o c k ___
5 .0 0 0 ,0 0 0
F ir s t m o r tg a g e 5 s . 2 ,5 0 0 ,0 0 0
2 ,5 0 0 ,0 0 0
G u a r, fu n d c o v e r ­
New England Trust Co. of Boston will pay at par on Aug. 1
P u r c h a s e m o n e y 6s 5 ,1 7 6 ,0 0 0
5 ,1 7 6 ,0 0 0
i n g Int.. o n p u r ­
1 .0 0 0 ,0 0 0 P r e m iu m o n s t o c k
c h a s e m o n e y 6 8 - 1,000.000
Denver extension 4 % bonds due Feb. 1 1922 to the follow ­
5 ,1 7 5 ,8 7 0
s o ld _
__________
1 0 ,5 4 2
S t o c k in o t h e r c o s . 5 .1 7 5 ,8 7 0
ing amounts, viz.: $104,000 in $1,000 bonds and $2,000 in
x 3 .4 1 0 .0 0 0
3 ,1 1 0 ,0 0 0 B ills p a y a b le
5 0 0 ,0 0 0
x l , 4 3 5 ,7 6 1
1 , 1 3 5 , 8 2 4 P r o f i t a n d l o s s _____ 1 , 1 2 2 , 3 3 4
1 ,0 4 7 ,7 0 5
$100 bonds.— V. 82, p. 1496.
5 ,9 6 3
1 8 ,0 2 9
M i s c e l l a n e o u s _____
C a s h i n b a n k s _____
T o t a l ___

2 7 ,4 1 9

4 0 ,6 6 1

1 4 ,2 9 8 ,3 3 4

1 3 ,7 3 4 ,2 4 7

T o t a l ___________

1 4 ,2 9 8 ,3 3 4

1 3 ,7 3 4 ,2 4 7

x E d is o n E le c t r ic Illu m in a tin g C o . o f B r o o k ly n .

The Kings County Electric Light & Power Co. owns the
entire capital stock of the Edison Electric Illuminating Co.
of Brooklyn and leases its plant to that com pany, which
operates it in conjunction with its own, and out of the gross
earnings of both plants pays all expenses, including interest
upon the funded debt of both com panies, and pays over the
net earnings of its operations to the Kings County Electric
Light & Power Co.
I n c o m e A c c o u n t o f E d is o n E le c tr ic I llu m in a tin g C o. o f B r o o k ly n .

1905.
Gross earnings_____________________ _____ _ $2,542,733
Income from rentals, & c___________________
8,414
Total income___________________________ $2,551,147
Operating expenses, including general techni­
cal, production and distribution expenses__ 1,351,208
Net earnings___________________________ $1,199,939
D e d u ct —
Interest on bonds:
Edison 4% _____________________________
$171,000
Kings County 5% _______________________
125,000
Kings County 6% _______________________
310,560
Doubtful accounts written off_____________ __
5,508
Discount on bonds__________ ______________
50,000
Replacement account________ , ___________. .
100,000
Total deductions________________________
Balance, surplus, transferred to Kings Co.
E. L. & P. Co. under lease agreement____

Chicago Lake Shore & South Bend (Electric) R y .— New
Enterprise.— J. G. W hite & Co. have com pleted estimates
and surveys for this new electric railway, which will extend
from South Bend, In d ., to the Ulinois-Indiana State Line
in the city of H am m ond, a distance of 70 miles, forming an
important addition to the trolley systems centering at Chi­
cago. It is reported that the road will be financed b y the
Transit Finance Co. of New Y ork, and it is expected that
the line will be com pleted b y the Illinois Central from Ham ­
m ond northwest into Kensington, there making connection
with the Central tracks for a continuous route into Chicago.
The Illinois Central, it is stated, is bound b y traffic agree­
ments not to build east of the State Line, which accounts
for the rather unusual construction conditions.

1904.
$2,507,813
From Hammond the
will
5,346 States Steel Corporationnew roadGary, run eastward into the new United
city of
thence via Dunne Park, Michigan
to South Bend. It is
steamer
$2,513,159 City and New Carlisle City to Chicago will be anticipated that a with the
service from Michigan
run in connection

City
,234,525 new road, giving the residents in the district from Michigan into to South
Bend inclusive a particularly quick and convenient route
Chicago.
be for both
traffic in direct
$1,278,634 The road will steam roads passenger and freightconstruction will com peti­
tion with the
in the district. The
conform

xl

$171,000
125,000
310,560
11,574
_____
_____

$762,068

$618,134

$437,871

to the best interurban standard and track will be laid with 75-lb. rails.
All bridge structures, except the bridge over the Calum et-River, will be
of concrete or steel, and two trolley wires will be included in the over­
head equipm ent. On 85% of the road the grade will not exceed 2-10 of
1 % , and the usual m aximum for overhead crossings will be 2 % . At
two points, however, the grade on these bridges m ay run to 5 % . As
approved, the total curvature for the line amounts to 1034 degrees,
divided between 59 curves, practically all within the city limits of the
various towns en route. It has not yet been decided whether the road
will be single or double track.

$660,500

In January last the com pany was reported to have in­
creased its capital stock to $ 6 ,000,000 and authorized a bond
x The operating expenses for 1904 include “ operating, maintenance,
renewal and general expenses, $1,050,255; taxes and insurance, $165,350; issue of $3,000,000 to secure funds to carry out the work.
interest on loans, legal expenses and accident damage claims, $18,920.” The officers, it is understood, are J. B. Hanna, President;
F. B. Wagner, Vice-President, and F. C. McMillin, Secretary
E d is o n E l . 111. C o . o f B r o o k ly n B a la n c e S h eet D e c . 31 1905.
and Treasurer, all of Cleveland. O.
TP
?
q
L ia b ilitie s —
Property and plant___ $9,532,353 Capital stock_________ $5,000,000
Chicago Subway Co.— M ail Contract— Operations.— The
Consol, mtge. 4% gold
Property & plant (merbonds____________ 4,275,000 “ Chicago E conom ist” of July 21 says:
er acct., Citizen and
108,890
Iunieipal property). 2,643,750 Bond interest accrued __
The Illinois Tunnel C o., which is the Subway Com pany’s operating
Bills payable, Kings Co.
Property and plant dis­
to
E. L. & P. Co______ 3,410,000 concern, on Monday inaugurated its contract with the Government as
300,000
count on bonds_____
carry the mails. Connection with the La Salle Station was opened
License under Ed’n pat’s
945,000 Bills payable, banks__ 1,500,000 a beginning and the test was highly7 gratifying. On M onday next the
Stks. & bds. in oth. cos.
404,550 Accounts payable____
404,768 connection
Passenger
be opened. W
Insur. investm’t fund..
59,879 Kings Co. E. L. & P.Co. 1,435,761 tw o and thewith the UnionOffice, fully Station will city ’s incom ing ith these
Chicago Post
60% of the
and out­
Cash on hand________
17,541 Guaranty deposits____
24,422 going mails will be handled through the tunnels. July 30 all of the other
Bills receivable_______
21,363 Suspense accounts____
487 railway mail connections except Dearborn station will be opened. The
Accts. rec., City of N. Y. 1,827,307 Accrued expenses____
52,242
be opened Sept.
is to yield the
Accts. rec’le, commerc’l
227,146 Replacement account__
300,000 latter will$172,600 a year, is1.theThe mail contract, which revenue shown
first im portant
General supplies______
59,879 com pany tunnels were built. President A. G. source of of the Tunnel
252,827 Reserve insurance acct.
since the
Wheeler
Discount on bonds susp.
325,000
Company declares that revenues will be added very rapidly from now o n .
Prepaid charges______
14,733
He states that the connections with the various freight depots will be

f

Total
Total
$16,571,449
See also Y. 80, p. 2216.— V. 82, p. 51, 513.

opened beginning Aug. 15.

The com pany has its tunnels connected with
All of these have contracts with the
Tunnel Company, which, he estimates, will furnish between 25,000 and
30,000 tons of freight daily. This would mean a substantial earning
power over fixed charges. Extension of the autom atic telephone ser­
vice is to be pushed as soon as other matters are running sm ooth ly.

$16,571,449 56 buildings and shipping firms.

GENERAL IN VESTM EN T NEWS.
R A IL R O A D S , IN CLU D IN G STREET ROADS.
Aurora Elgin & Chicago R R .— Listed in Chicago.— The
Chicago Stock Exchange has listed $3,100,000 preferred
stock and $3,100,000 com m on stock; also the old com pany’s
$3,000,000 bonds of 1901, due in 1941.— V. 82, p. 1436, 1155.
Baltimore & Annapolis Short L in e.—Proposed Bond
Issu e.— The bond issue which it is proposed to make under
the plan of the United Railways & Electric Co. of Baltimore,
described in last week’s “ Chronicle” (p. 156), is not to ex­
ceed $ 1 ,0 0 0 ,0 0 0 , and the proceeds will be used for electrify­
ing the road, for terminals, & c.— V. 83, p. 154.
Berkeley R R .— Sold.-— A t the foreclosure sale on July 23
at M onck’s Corners, S. C., the property of this com pany was
bid in for $10,000 b y the Burton Lumber Co. of Charleston,

President Wheeler, denying current rumors, stated on
July 2 that the com pany’s financial arrangements had been
made, and that the plan would be announced in due course.
The loan of $3,000,000 from Kuhn, Loeb & Co., secured b y
deposit of $4,000,000 bonds will not mature, it is said, until
about Jan. 1.— V. 82, p. 1101, 1040.
Chicago Union Traction C o.— Lowering of Tunnels— Trolley
in Place of Cable.— Contracts were let on July 23 for the
lowering of the tunnels under the Chicago River as ordered
last April b y Secretary of W ar Taft.
The work is being done by the com pany in accordance w ith the agree­
ment entered into with the city at the time the trolleyizing ordinance was
passed. The com pany pays all the cost of rem oving the river obstruc­
tions and sinking the bores, this cost, however to be added to the pres­
ent value of the street railway properties, if at any future time the city
shall take over the properties', in attem pting to carry out the municipal
ownership program.

The “ Engineering R ecord ” of July 21 contains an article
on the work to be done on the tunnels.

July 28 1006.]

THE CHRONICLE.

The equipping of the cable lines of the West and North
•Chicago systems with trolley, it is said, will be pushed to
•completion within a few weeks, at which time the tunnels
will be abandoned and the work of lowering them will be
.started.
The City Council on June 18 passed the amended ordinance
permitting the change to trolley, not only on the abovementioned lines but also on the Chicago City system.— V. S3,
p. 94.
Cleveland Electric R y .— Proposition to City.— This com­
pany's proposition to the city, in the shape of an ordinance
asking for a blanket franchise, was submitted to the City
Council on July 24. The ordinance would extend the fran­
chise for 25 years on 27 lines (the total number of lines to
date), on the basis of seven tickets for a quarter, transfers
as at present, express lines as are needed and extensions or
new lints at thus rate of fare, as the Council decides.
An official statement s'gned by President Andrews (see
“ Cleveland Leader’’ of July 25) says in part:

213

subsidiary Rockville Broadbrook & East Windsor Street Ry.
— V . 81, p . 975, 507.

Hudson Valley Railway.— Next) Officers.— Following the
recent change in control, officers have been elected as fol­
lows:
President, James H. Caldwell of Troy; 1st Vice-Pres., Peter McCarthy
i of Troy; 2nd Vice-Pres., Frank E. Howe of Troy; Sec. and Counsi l to
|President Caldwell, Henry J. Speck of Troy; Trea's., Frederick F. Pruyu
of Glens Falls; Ass’t Tveas. J. A. O’Brien ot New York. V. S3, p. 155.'
Illinois Central R R .— Agreement Reported.—The “ New
York Evening Post” announced last evening that at a meet­
ing of the board of directors held yesterday an understanding
was reached between the Fish and Harriman interests, the
latter withdrawing their motion made at the meeting of
July IS asking for the appointment of a special committee to
solicit proxies from the shareholders. As a result of this
agreement, it is stated, there will be no change whatever in
the management.— V. 83, p. 155.
i Kansas City Mexico & Orient R R .— Bonds to Complete the
Line.—A press report says:
Th - fare proposed is practically a 31^-cent fare, entitling passengers ! President Stilwell has gone to Europe to sell 815,000,000 of bonds to
to transfer privileges over the entire system.
complete the road from Kansas City to the Mexico Pacific. Mr. StilThe right which we offer to surrender is the lawful right to continue well succeeded in selling all of the stock of the two construction com­
the operation of these properties at the present rate of fare (5 cents) panies, amounting to about 820,000,000, the proceeds from which have
for a period of at least 8 or 10 years. Stated in another way. this means built nearly 700 miles of road and will build a total of about 1,000 miles of
a reduction in revenue to the company of upwards of 31,000.000 per i road without a bond being issued.
year during the life of the present grants from the city, making a total i Tic 815,000,000 of bonds which will be sold abroad are expected to pay
reduction of revenue, which th • company by this offer surrenders, of ! for the building of the remaining 600 miles of road and the complete
from eight to twelve millions of dollars, depending upon the average ' equipment of the property. The 700 miles of road now in operation are
length of the present grants as finally determined by the courts.
considerably more than paying operating expenses. The road is placed
The company is now operating, in round numbers, 235 miles of track, i in a rather unique position by reason of having no fixed charges to meet
and carrying passengers over its entire system, except a line to Euclid before it is fully opened for traffic. The company on July 2 applied to
village, tor one fare. It results that the public of Cleveland can now the Texas Railroad Commission for authority to issue $1,261,000 of bonds
ride upon the lines distances of 18 or 19 miles for one fare, and the on 78.84 miles of completed track between Sweetwater and Knox City,
Average length of the routes upon which the company is carrying for one same being at the rate of $16,000 per mile.—V. 83, p. 95.
fare, exclusive of all transfer rides over other routes, is between six and
seven miles.
i
Michigan Central R R .— Tax Decision.— The Supreme
The Forest City Ry. (leased to the Municipal Traction I Court of Michigan on July 23, Justice Montgomery writing
Co.; see below and V. 83, p. 94) is also seeking extensive ! the prevailing opinion, affirmed the decision of Judge Wiest
franchise rights, its cash lares to be 3 cents. On July 25 j in the Ingham County Circuit Court, who overruled the de­
Mayor Tom L. Johnson undertook to tear up the tracks of murrer of the company in the action brought by the State
the Cleveland Electric Railway Co. on Fulton Road, between I to collect taxes for the years 1856 to 1893 claimed to be due
Lora'n Street and Franklin Circle, the company more than in excess of the amounts already paid. The total involved,
a month ago having been directed bj* the City Council to it is stated, aggregates about $4,000,000. The company’s
take up its tracks or remove them to the eas' s:dc of the defence was that the claim was barred by the statute of lim­
street to make room for [tracks of the Forest City Railway. itations and laches. Justice Grant wrote a long dissenting
The strip destroyed was about 3,400 feet in length. An opinion, not concurred in by any of the other justices.—
injunction having been disregarded, the Mayor was charged V. 83, p. 96.
Muskegon Grand Rapids & Indiana R R .— Coupon Pay­
with contempt of court.— V. 81, p. 1S47.
Columbus Newark & Zanesville Electric R y .— New Pre­ ment.— Coupon No. 38, due July 1 1905, is now being paid at
ferred Stock Ready.— The new preferred stock is ready for the office of Winslow, Lanier & Co. The surplus Dec. 1
distribution in exchange for Buckeye Lake preferred.— 1905, after paying coupon No. 37, was $2,045; the net earn­
ings for the six months—-December 1905 to May 1906, both
V. 83, p. 36.
inclusive—were $18,5S6, total, $20,631, amount required to
Dallas Cleburne & Southwestern R y .— Bonds.— This com­ pay coupon No. 38, $18,756; surplus as of June 1 1906,
pany*, it is*stated, has been authorized to issue 8145,000 $1,881.— V. 82, p. 219.
bonds by the Texas Railroad Commission.— V. 77, p. 88 .
Nashville Railway & Light Co.— New Bonds Authorized.—
Forest City Railway Co., Cleveland.—Board Enlarged.— The shareholders on July 18 formally approved the propo­
The board of directors has been increased from five to nine, sition to make an issue of $15,000,000 of bonds to retire old
three of the old directors retiring, and now includes the fol­ securities and make improvements.
lowing:
The question of taking part in the amalgamation under
M . A . F a n n i n g , P r e s i d e n t o f t h e B e l t L i n e R R . : C . H . M u e l le r . P r e s i d e n t o f t h e
the title of “ American Cities Railway & Light Co.” (see V.
C h a m p io n S te e l R a n g e C o .; K . A . B r o w n . W e s t S id e r e a l e s ta te d e a le r a n d b a n k
• d ir e c to r : T n o m a s P . S c h m i d t , S t a t e S e n a t o r a n d a t t o r n e y ; O t t o L e i s y , P r e s i d e n t o f
83, p. 35), was referred to a committee of five, with instruc­
t h e L e i s y B r e w in g C o . ; A . M . W i ll a r d o f W . J . M o r g a n & C o . : L e o p o l d E i n s t e i n o f
tions to look into the merits of the proposition, viz.: Col. A.M.
t h e E i n s t e i n B r o t h e r s L i q u o r C o . ; J o h n H . O 'B r i e n , G e n e r a l M a n a g e r o f t n e C l e v e ­
la n d C o -o p e r a t iv e S t o v e C o .; H e r m a n S c h m id t . P r e s id e n t o f th e S c h m id t W in e C o .
Shook, F. O. Watts, V. E. Schwgb, Colliding Marr and W. L.
C om p a re V . 83, p. 94.
Fort Smith (Ark.) Light & Traction Co.— Sale of Abbott Dudley. Isidore Newman & Sons of New Orleans and asso­
Interests.— President W. R. Abbott, it is announced, has ciates are said to own about 88 % of the stock.— V. 83, p.
sold his interests in this company to A. S. Fluey, of Chicago, 158, 38.
together with his interests in the Fort Smith Gas & Oil Co., ■ New Jersey & Pennsylvania Traction Co.— Traffic Agree­
Fort Smith < Van Buren Bridge Co. and the Fort Smith ment with Philadelphia Rapid Transit Co.— This company, it
fc
is announced, has entered into an agreement by which its cars
Hotel Co.
The Fort Smith < Van Buren Bridge & Traction Co. was incorporated will be allowed to use the tracks of the Philadelphia Rapid
fc
several months ago with Harry E. Kelley of Fort Smith President; IS'. R. Transit Co. between Hatboro and Willow Grove, thus giving
Abbott, \ ice-President, and Geo. Sengel. Secretary, to build abridge the Pennsylvania & New Jersey Traction Company’s system
across the Arkansas River between Fort Smith and Van Buren at an esti­ upon the completion of 12 miles of new road to be built on
mated cost of 8250.000, to accommodate railroad, wagon and foot traffic
and a trolley railway. H. M. Byllesby & Co., New York Life Building, private right of way between Newtown and Hatboro a
Chicago. IIP, are the engineers.— V. 82, p. 928.
direct connection with Philadelphia.— V. 79, p. 2206.
Fort Smith & Van Buren Bridge & Traction Co.— Status.—
New York & Port Chester Electric R y .— Contest.— See
See Fort Smith Light & Traction Co. above.
New York Railroad & Development Co. below.— V. 82, p.
Fort Smith & Western R R .— Acquisition.— See St. Louis 1269.
E! Reno & Western Ry. below.— V. 79, p. 269.
New York Railroad & Development Co.—Reported Con­
Fox River Valley R y.— Xev: Stock— Mortgage.— This com­ test.— The interests identified with the New York West­
pany, which was organized a year ago to construct an inter- chester & Boston enterprise who in January last bought
urban line between Sheboygan and Kaukauna, Wis., and into this company for the purpose of obtaining control of
made a mortgage to the Bowling Green Trust Co. of New York the New York & Port Chester project are said to be taking
as trustee, is reported to have increased its capital stock legal measures to compel the delivery to the Development
Company of the securities of the Port Chester Road. Presi­
from $25,000 to $200,000.
Georgia Florida & Alabama R y .— Increase of Securities.— dent Gotshall has asserted all along that the Development
The meeting of the stockholders to consider an increase in the Company had no control whatever over the Port Chester
capital stock and bonded debt, held on July 18, was, it is company. (See V. 82, p. 219, 1269; V. 81, p. 1101.)
Norfolk & Western R y .— New Directors.— On July 2 1
stated, adjourned to Sept. 25 in order to allow the annual re­
Henry C. Frick, one of the largest individual stockholders,
port to be prepared and submitted.— V. 80, 2457.
Hartford & Connecticut Western E.R.— Meeting Postponed. and L. C. Weir, also representing large stockholding interests,
—The meeting of the stockholders on Thursday to authorize were elected directors, to succeed W. 11. Barnes, a director
the proposed increase in the capital stock was adjourned to of the Pennsylvania R R . Co., and John B. 1'hayer Jr.,
Aug. 24, the necessary two-thirds in amount of the out­ Fourth Vice-President of the latter company, who rcs’gned.
— V. 83, p. 155, 96.
standing stock not being represented.— V. 83, p. 95.
Olean Rock City & Bradford R R .— Successor Com any.
Hartford & Springfield Street R y .— New Slock.
I he
shareholders, it is understood, voted on July 17 to authorize See Rock City R R . below.
Pan-American RR. (Mexico-Guatemala i. hood. Sold.the issue of $85,000 additional preferred stock, making the
total amount of outstanding preferred $285,000; also to pur­ Gco. D. Cook & Co. announce that the entire $ 1,000,000
chase for $50,000 additional rights and properties from the bonds have been sold. See V. 82, p. 559, 693.

[V ol . Lxxxm.

THE CHRONICLE

214

(3)
Operating with steam, scenic road, owns hotel near top of Corcovado Mountain. The Rio Company purchased the first four mentioned
of these tramways, the electrification of the Carris Urbanas and Sao
Christavao is being proceeded with.
Gas.—The Rio Company purchased the Rio de Janeiro Gas Co., and
after putting the works Into first-class condition, at a cost of about
$750,000, it is believed they will prove very profitable.
E lectric L igh t an d P o w e r .—Through the gas company purchase, the
Rio Company has an exclusive franchise to furnish electric light for 12
years from 1905, and through the purchase of the Reid concession it
has an exclusive franchise to furnish power for the same period and a
non-exclusive right for an additional 35 years. Until the power develop­
the
of these
concessions will
Appraised Value ment is completed the earning power company valuable active in wiring
Par
be limited, but in
meantime the
will be
Value. P er sh . Total.
the city.
885 $6,375,000
$100
S u m m a r y .—The company is therefore in possession of:
(a) two
valuable water powers; (b) four of the most important tramway com­
1 1 ,000,000
100
100
panies; (c) gas company; (d) exclusive electric light arid power franchise;
(e) telephone franchise. In other words, from
5,600,000 water power, the Rio Company will conduct the electricity developed by
50
40
tramway, electric-light,
50
99 17,820.000 electric-power and telephone operations in the City of Rio, and in addi­
4,950,000 tion supply practically all the gas used for lighting, heating, cooking, &c.
100
90
9,890,000
100
86

Pennsylvania C om pany.— Collateral for $50,000,000 (Amer­
ican) Improvement Notes.— The collateral deposited with the
Fidelity Trust Co. of Philadelphia, as trustee, to secure the
issue of $50,000,000 4 ^ % collateral im provem ent notes
dated May 1 1900 and due Nov. 1 1907 (American issue, see
V. 82, p. 1157), is as follows, the table being repeated this
week owing to an error in the amounts deposited as given
last week, due to the fact that the par value of two of the
issues is $50, not the usual $100 per share.
Total
Issued.
Vandalia R R . s t o c k .-$14,649,546
Pitts. Cin. Chic. & St.
Louis R y . pref. stock 27,457,100
Phila. Balt. & Wash.
H R . stock ________ 23,493,550
Nor. Central R y . stock 17,193,400
N or.<feWest .R y .p f.stk . 23,000,000
do
do com .stk. 6 6 ,000,000
B alt. & Ohio com . stk .124,580 000

Amounts
Deposited.
$7,500,000
1 1 ,0 0 0

000

7,000,000
9,000,000
5,500,000
11,500,000
6,500.000

100

106

6,890,000

E a r n in g s .

The fixed charges of the company are as follows:
7% on $1,716,000 underlying bonds for the Carris Urbanas
Tramway___________________________________________ $120,120
Qu’Appelle L ong Lake & Saskatchewan R R .— Change in 5 % on $23,284,000 Rio Company 1st mtge. bonds, balance held
in escrow to retire underlying bonds____________________ 1,164,200
Control.— The Canadian Northern R y . has purchased the
control of this property, which runs from Regina to Prince
Total fixed charges___________________________________81,284,320
The operation of the various companies for 5 months ending Novem­
Albert, a distance of 249 miles, on the basis, it is currently
follows:
reported of $500,000, in addition to taking care of in some ber 1905 resulted as railways_____________________________ 8355,723
Net earnings—Street
fashion the bonded debt, which consists of $3,809,140
Gas company______________________________ 156,811
Telephone company________________________ 20,497
first mortgage bonds due Aug. 1 1911. These bonds are en­
titled to interest at the rate of 6 % per annum, but have re­
Total for five months_____________________ 8533,031
cently been receiving payments at the rate of £ 2 2 s. per bond
This is equal to earnings of $1,279,274 per annum, an amount suffi­
annually in cash and the balance in certificates redeemable cient to meet interest on entire bond issue during construction of hydraulic
plants, and re-construction of street railways and gas
out of surplus earnings. In addition to the bonds, there is and electric-light estimated that after the various properties are fully
company. It is
about £275,000 scrip outstanding. The Canadian Pacific, developed, the net returns will not only meet, the fixed charges, but show
which for a number of years operated the property, is said handsome earnings for the ordinary stock.—V. 80 d . 1175
to have had an option to purchase at $195,000, but permitted
Rock City RR., Olean, N. Y. —Successor Company— Con­
the option to expire.—-V. 82, p. 335.
solidation.— This com pany was incorporated at Albany on
Rapid Transit, New York C ity.— Subway Routes Approved July 14 with $1,100, 000 authorized capital stock to succeed
in P art.— The New Y ork Supreme Court, Appellate Division, after foreclosure the Olean R ock City & Bradford R R .,
First Departm ent, on July 12 rendered a decision in the which operated 18.16 miles of trolley line including its own
matter of the application of the Board of Rapid Transit line of 15.85 miles in length, extending from Bradford, Pa.,
R R . Commissioners, confirming the reports in favor of the to Olean, N. Y .; also two leased lines, the Olean Street R y .
proposed Third Avenue route and 10 others, with certain 1.02 miles and the Bradford (Pa.) Electric Street R y . 1.29
limitations. Eight other routes have not yet been reported miles. O. R . C. & B. R R . (being foreclosed) has outstanding
on. The Court points out that some of the routes parallel $210,000 capital stock and $200,000 first mortgage 5 %
one another and some actually conflict, and the Rapid Tran­ bonds dated 1900 and secured b y mortgage to the American
sit Commissioners are required to select and contract for the Loan & Trust Co. of Boston as trustee. A considerable
construction of all desired routes within two years, and amount is to be expended on im provem ents. The incor­
such o f the routes as the Commission fails to determine on porators of the new com pany include Charles V. Nellany,
within that period will be considered disapproved.
Oscar F. Georgi, Albert M. Hartung, B. A . Connolly, Buffalo.
Presiding Justice O ’Brien, in the opinion, concurred in by all the jus­
St. Louis El Reno & Western Ry.— Reported Sale.— This
tices, says that the record submitted shows that the 19 routes will cost
$300,000,000 for construction and $150,000,000 more for equipment, a j road, extending from Guthrie to El R eno, O. T ., 42 miles,
total of $450,000,000. Against this the city ’s borrowing capacity on I has, it is reported, been acquired in the interest, of the Fort
Jan. 1 1906 was about $61,000,000. This margin m ay be increased by j Smith & Western.
The line, it is stated, will be operated
an increase in valuations of property, so as to result in the city having
about $110,000,000 leeway from July 1 1906 to July 1 1907. But if all independently for the present under the direction of the
this is to go for rapid transit construction, there will be nothing left for latter’s officials, who took possession on July 25.— V . 77,
the growing necessities of the city in many other directions.
To anticipate a great increase in valuations as a justification for an p. 350.
enormous outlay of money within the next few years would, the Court
Schenectady (N. Y .) Ry.— New Stock.— The com pany has
says, be a policy possibly more fatal to the development of the city than a filed a certificate of increase of capital stock from $600,000
failure to provide transit facilities, adding:
Compare purposes for which new stock is
“ Upon the record before us, it appears beyond the possibility of doubt to $7,000,000.
that the city has not the financial ability at the present time to under­ issuable, under authority granted b jr the State Railroad
take the building of all the routes proposed, and the only effect of Commission in October 1904, in V. 77, p. 1295; also see
our approval will be practically to com pletely appropriate and tie up
every thoroughfare leading into and through Manhattan Borough. Fu­ V. 82, p. 1380.
ture engineering or mechanical im provements m ay render such a univer­
Southern Indiana Railway Co.— Control.— The Southern
sal scheme of subways unnecessary, and to preserve the city ’s rights and
interests it seems better to approve all the routes, with the limitation Indiana Coal Co. and the Indiana Southern Coal Co., as well
that only such as the Rapid Transit Commissioners may decide on within as the Southern Indiana R y ., are both Walsh properties,
the next tw o years are to be considered finally approved.” — V . 82, p.1157. and the recently filed mortgages of all three corporations
Rio de Janeiro (Brazil) Tram way Light & Pow er C o.— are made to the First Trust & Savings Bank of Chicago, not
Status.— This com pany’s outstanding securities were re­ the American Trust & Savings Bank. Compare V. 83,
cently listed on the Toronto Stock Exchange, viz.: capital p. 39, 97.
stock, $21,993,900, in shares of $100 each; first mortgage 5 %
Springfield & Xenia Traction Co.— Reorganization.— The
sinking fund gold bonds dated 1905 and due 1935, reorganization com m ittee, com posed of J. M. Hutton of
$20,900,000.
Cincinnati, W . H. Lam precht and W . S. Hayden of Cleve­
The authorized capitalization consists of first mortgage land, on July 24 issued the following statement:
5 % gold bonds due 1935, $25,000,000; capital stock, $25,It is proposed to make a reorganization, effective about Oct. 1 1906,
000,000. The bonds are issued in denominations of $ 100 , in accordance with a plan that the new company (Springfield & Xenia
$500 and $1,000. Interest payable January and July in Ry.—Ed.) shall issue $300,000 5% preferred stock and S300.000 common
Toronto, Canada; New Y ork, U. S.; and London, England. stock, the preferred stock to be convertible, par for par, into first mortgage
5s if the net earnings of the property reach $20,000 per annum. All of
Trustee for bondholders, National Trust Co., Limited. The the new securities will be distributed pro rata among the holders of the
directors are:
certificates of deposit which were given for Springfield & Xenia Traction
President, W illiam Mackenzie, Toronto; Vice-President, Sir W m . Van Co. bonds. Certain claims against the original company are yet to be
H om e, Montreal; E . R . W ood, Frederick Nieholls, Z . A . Lash, A. W . disposed of, and the carrying out of the company’s plans is more or less
Mackenzie, Toronto; W illiam L. Bull, New Y ork; R . M. Horne- dependent upon the results of negotiation with the holders of the claims
Pa.yne, London, England; Alexander Mackenzie, Brazil; Percival Far- referred to.
quhar and F . S. Pearson, New Y ork .
R oad was sold under foreclosure on Dec. 23 1904 and bid
A statement, understood to be authoritative, says in sub­ in b y the bondholders. The successor com pany, the Springfield & X enia R y ., was incorporated in June 1904 (V. 78,
stance:
Properties Owned.
p. 2443).— V. 79, p. 2797, 2643.
Two Water Powers.— (1) One within 40 miles of Rio (from falls on the
Torrington & Winchester Street Ry.—Change in Control.—•
Das Lagas R iver.— E d .), capable of developing 40,000 h. p.; (2) the
other within 90 miles (from falls on the Parahyba R iver), capable of The control of this property having recently been acquired
developing 100,000 h . p. The development of the first-mentioned prop­ b y the Consolidated Railway Co., the following officers are
erty has been com m enced, and when com pleted, about July 1908, it is announced:
President, Charles S. Mellen; Vice-President,
estimated that the com pany will have about 30,000 electrical h. p.
Calvert Townley; Treasurer, A. S. May; Secretary, J. G.
deliverable in the City of Rio de Janeiro.
Tramways.— In the City of Rio de Janeiro there are four large and Parker.
See bonds on page 65 of “ Street R ailw ay” section.
tw o small tramways, viz.:
Underground Electric Railways of London.— Syndicate
(1) Operating b y animal traction: (a) Carris Urbanas, 40 miles of
track in business portion of the city, having an exclusive right until 1930; Call No. 3 .— On July 24 a call was made upon the sub­
(b) Sao Christavao, 45 miles of track in excellent residential district, scribers to the London Underground syndicate for a third
having exclusive right until 1950.
The amount of
(2) Operating by electricity: (a) Villa Isabelle, 30 miles of track in paym ent of 2 5% on the com pany’s stock.
district adjoining zone occupied by Carris Urbanas, having an exclusive, the issue is $25,000,000 (£5,000,000), upon which $12,500,right until 1945. (b) Carrioca, in desirable residential district; (c) Jardin 000 has already been paid.
The amount called (£2 10s. per
B otanico, in outlying district, with terminal over its own tracks in zone
share) is payable in two installments of £1 5s. each on Aug. 15
occupied by Carris Urbanas. Exclusive franchise.
T ota l__________________________ 858,000,000
$62,525,000
Compare foot-notes in the “ Chronicle” last week.— V . 83, p. 156.

J u l y U 1900.
S

THE CHEONICLE.

and Sept. 13 1906. The installments on the American
shares are payable at the Old Colony Trust Co., Boston,
and Speyer A Co., New York, in United States currency.—
V. 82, p". 1270.
United Railways & Electric Co. of Baltimore.—Bond
Issue.— See Baltimore it Annapolis Short Line above.
Deposits.— Holders of income bonds desiring to participate
in the funding of coupons (V. 82, p. 156) are notified to
deposit their bonds with the Maryland Trust Co., Baltimore,
on or before Sept. 1 .
"The funding bonds to be issued shall he 30-year gold coupon bonds,
bearing interest at 5% tier annum from June 1 1900. payable semi­
annually. They are of the denominations of $500 and $1,000. the
funding bonds are. both as to principal and interest, the unconditional
obligations ot the company. The interest on said funding bonds shall
be entitled to priority over the interest on the income bonds.
"For coupons amounting to less than the face value of a bond, frac­
tional or scrip certificates shall be issued. Certificates will be exchange­
able at the office of the trustee for bonds when presented in $500 lots or
multiples thereof. Certificates or scrip for $100 bear interest for rive
years. If not exchanged in that time for bonds, interest ceases. Cer­
tificates for less than $100 are exchangeable for interest-baring scrip
when presented in $100 lots, and are required to be exchanged into
$100 certificates or bonds within five years from date of the funding
agreement.
"All coupons shall, as funded, be delivered to the trustee under the
funding agreement. and shall, until the payment of all cumulative interest
on all income bonds, be held by the trustee as security for the payment
of the interest on the funding bonds and the protection of the depositing
income bondholders.” See also plan in V. 83. p. 156.
The acceptance of the plan is recommended in an adver­
tisement signed by—
Hambleton A Co.. D. Fahnestock A Co., Stein Bros.. Peard, Hill & Co.,
Sutton. Strother A Co.. John Redwood, Alex. C. Nelson A Co.. Wm.
Schwarz A Sons. Riggs A Hopper, Wilson. Colston A Co.. Baker, Watts
A Co.. Townsend Scott A Son. Lawrence Perin A Co., Bartlett S. John­
son A Co.. Robert A. Fisher A Co., Robert W. Smith A Co., J. Harmanus Fisher A Son.—V. 83, p. 156.
Wabash R R .— Buffalo Terminal Association.—Further
Facts.— The mortgage of the Buffalo Terminal Association
referred to last w eek's made to the City Trust Co. of Boston
as trustee. The Association is to be managed by three
trustees, namely: Edward B. Pryor of St. Louis, Fourth
Vice-President of the Wabash R R .; George Yomans of Chi­
cago, Assistant to President Delano of the Wabash, and
Henry F. Ward well, also of Chicago. The share capital is
represented by 10,000 shares of beneficial interest of the par
value of 8100 each.— V. S3, p. 157.
Watsonville (Cal.) Transportation Co.—Foreclosure Sale.—
Judge Smith in the Superior Court at Santa Cruz on July 14
ordered the foreclosure sale of this company under a mortgage
of which the Central Trust Co. of San Francisco is trustee.
A press dispatch says:

215

struction reserve fund $339,400 from surplus account. The surplus for
the past twelve months has increased $525,528, and this, too, after set­
ting aside amount named above to reconst ruction reserve account.
'

S ix
M o n th s.

E a r n in Q s
p o m S u b. C os.

O th e r
In c.

P r o / its .

N itP p D ir .
(0 % )

C om m on
D iv i d e n d .

H a l.,
S u ru .

1905-00 .......... .$ 9 5 3 ,1 1 5 $94,420 $1,023,535
$426,9S2 (2 1, ',.) 151.SS4 $445,664
1904- 05 ......... 474,904
74,117
532,581 281,907
(l A ).S I,914
108.700
Y ear.

1905-

00

1904-05

N o te .—

........ 1,700,930

1,203,761

173.392

----

1,829.375

1,181,768

714.897 ( 4 !.,1, ) 249,551

563,874 (3 V

1152.320

804 927

105,828

From the surplus tor the last six months was deducted $339,400 tor " n construction reserve fund,” leaving a surplus ot $106,209, against a surplus ot si 63,700 tor the corresponding halt ot the previous year, being a decrease ot $02,191 —
V. 83. p. 154.

American Oak Leather Co., Cincinnati.—Proposed Amend­
ment to Articles of Incorporation— Rights of Preferred Stock.—
T h e sh a r e h o ld e r s w ill v o t e Aug. 14 upon th e question
of amending the articles of incorporation so as to make the preferred
stock bear cumulative dividends at 5% ; to make such stock and its divi­
dends prior in claim to the common stock; to increase the number of
directors to thirteen; to grant two directors to the preferred stockholders,
and in certain cases an equal voting power with the common stockholders;
and, except in case of purchase of property, authorizing a mortgage only
with the assent of the holders of a majority of the preferred stock.— V. 78
p. 1781.

American Ordnance Co.— Successor Company.— See Amer­
ican & British Manufacturing Co. under “ Annual Reports”
on a preceding page.— V. 70, p. 993.
American Shipbuilding Co., Cleveland.— Extra Dividend.
— The directors on Wednesday declared the regular annual
dividend of 4% on the common stock, payable quarterly,
the first instalment on Sept. 1 , and in addition an extra
dividend of 2% , also payable Sept. 1 , to holders of record
Aug. 18. The company has an extraordinary amount of
work in progress; but, on the other hand, it is engaged in
making important improvements, including the rebuilding
of its Lorain dry dock.— V. 82, p. 1381.
American Telephone & Telegraph Co.—Output.— The out­
put of instruments (each telephone being two “ instruments,’,
viz., one receiver and one transmitter) for the month and
six months ending June 30 was:
-------- Month-------- ----------- Six Months-----To June 30—
1906.
1905.
1906.
1905.
Gross output (number)_______ 217,243 120,555 1,161,857
897,620
Net output (number)__________162,270 68,128
803,522
614,078
___
6,501,780 5,094,642
Total outstanding_____________
____
— V. S3, p. 98.

Baltimore Electric Power Co.— New Turbine Power Station.
— The “ Engineering Record” July 21 contains an illustrated
article regarding the 8,000 k. w. power station recently
completed by the Eastern Electric Construction Co., a cor­
poration financially allied with the Baltimore Electric Power
Co. and the Maryland Telephone Co.— V. 81, p. 615.
Belfast (Me.) Gas & Electric Co. of Portland.— New Stock.
— This company on July 23 filed a certificate of increase of
The bondholders, headed by Marshall Frank of San Francisco, will probably b i d
capital slock from $75,000 to $80,000.
the property in and operate i; on a new basis. The majority of the stockholders,
w h o claimed the:,' were defrauded by Main and P,ogers, have accepted the offer o f
Cambridge & Muskingum Valley Coal Co. of Cleveland.—
Frank and nis associates and have paid in their SS per share, relieving them of all
further liability, and Frank will endeavor to nut the road on its feet again.— Y . 81, NewfjfStock— Bonds.— This company has increased its capital
p . 1494.
from $1,000,000 to $1,600,000. The company has out­
standing an issue of first mortgage gold bonds, dated March 1
1905, purchasable for the sinking fund at not exceeding par
INDUSTRIAL, GAS AND MISCELLANEOUS.
and interest to the extent of $50,000 in 1906; right to call,
Acme Steamship Co., Detroit.— New Stock.— The stock­ if any, not known. Girard Trust Co., Trustee, Philadelphia, Pa.
holders, it is stated, have been notified of the meeting to be
Canadian General Electric Co., Limited.—Listed in Lon­
held to increase the capital stock from $500,000 to $700,000, don.— The London Stock Exchange has listed London cer­
to provide in part for the construction of a new steamer to tificates for 11,000 common shares of $100 each, fully paid.
cost 8435,000. See V. 80, p. 1915.
See V. 82, p. 572, 694.
American Diesel Engine Co.— See report of American &
Central Lumber Co. of Mexico of Portland.—Reduction
British Manufacturing Co. under “ Annual Reports” on a pre­ of Capital Stock.—-The shareholders have voted to decrease
ceding page.—-V. 77, p. 2099, 2036; V. 76, p. 867.
the amount of its capital stock from $2,000,000 to $1,000,000.
American Pipe Manufacturing Co., Philadelphia.— Stock
Central New York (Bell) Telephone & Telegraph Co.—
Option.— Shareholders of record have the right to subscribe Consolidation.—Un July 24 there was filed at Albany a cer­
for 81,000,000 new stock to the extent of 25% of their re­ tificate of merger under this title of the St. Lawrence Tele­
spective holdings, subscriptions to be paid in four equal in­ phone Co., the Central New York Telephone & Telegraph
stalments Aug. 20, Sept. 20, Oct. 20, Dec. 20. Dividend Co., the Oneonta Telephone Co., the Milford Telephone Co.
rate 12% per annum. Par of shares 8100.
and the Madrid Telephone Co.— V. 77, p. 2160.
Earnings.— The net profits for the first half of 1906, it is
Cincinnati (O.) Gas & Electric Co.— Meeting Aug. 23 to
stated, were 8260,335, as against 897,027 in the same six Ratify Lease.— The shareholders will vote Aug. 23 on the
months of 1905, an increase of 8163,308.— V. 82, p. 567
“ proposition to lease all of the properties, rights and privileges
American Grass Twine Co.—Protective Committee.— A com­ of the company to the Union Gas & Electric Co., an Ohio
mittee consisting of Solomon Turck, Chairman; E. D. Mor­ corporation, according to the terms of a lease unanimously
gan Rowland, Samuel Slee, Joseph Watkins and William T. approved and recommended by the board of directors at a
Wisner, with Charles C. Sanders, Secretary (Samuel Unter- meeting held July 17 1906.” — V. 82, p. 1441, 1271, 871.
myer, John A. Garver and Henry Necarsulmer, counsel),
Corn Products Refining Co.— Dissolution of Sub-Compa­
acting for the holders of upwards of 8300,000 of the 815,000,- nies.— The following subsidiary companies have filed certifi­
000 stock,announce that they have begun suits againstformcr cates of dissolution. United States Sugar Refinery, Wau­
officers and directors to recover damages arising from stock kegan, 111.; United States Glucose Co. of New Jersey. Com­
purchase in 1902 and 1903 at prices ranging from S3 to $62 pare official statement in V. 82, p. 1321, 1442.
per share, based on dividends declared by the directors, the
Diamond Match Co.— Dividend at Old Rate.— The directors
repayment of which was subsequently enforced. (V. 80,
on Thursday declared a quarterly dividend of 2J£%, payable
p. 224.)
The committee charges that in a statement to the New York Stock Sept. 15. It is now thought that a reduction in the rate, if
Exchange the value of the plants was marked up to many times their one is to be made, may be deferred until (lie annual meeting
tru •value, and that the assets and prospective profits were also exag­ of the stockholders early next May, in order that the matter
gerated. All purchasers during the period named who acquired their may be submitted at that time. Compare V. 82, p. 1325,
stock on the faith of such dividends and statements, whether they still
hold their shares or have parted with them at a loss, are invited to co­ 1159, 989.
New Vice-Presidents.— Russell Hawkins, who has been
operate with the committee. Copies of the agreement under which -lock
and claims may be lodged may be obtained at the office of Messrs. Row­ assistant to President Barber, and C. H. Palmer have been
land, Knapp A Co., No. 7 Wall St., New York.—V. 82, p. 927.
elected Vice-Presidents, the latter to succeed W. M. Craves,
American Light & Traction Co.— Report.— An official deceased.— V. 82, p. 1381.
statement presents the following results for six months and
Edison Electric Illuminating Co. of Brooklyn. -Enrmngs
also the year ending June 30 1906, and says:
|and Balance Sheet.—See statement for Kings County Electric
The very large increase in net earnings for the past six months '92.2'4 )
fc
is largely due to the acquisition of additional properties; but omitting the Light < Power Co. under “ Annual Reports” on a preceding
acquisitions made since June 1905, the increase in net earning- for the page.— V. 78, p. 1500.
last six months equals 25 4% over the corresponding period of th- pre­
Equitable Illuminating Gas Light Co. of Philadelphia.—
vious year. The decrease in surplus, to the amount of 862,491 . for the Output.— The s t a t e m e n t of gas sold in the city <4 I hiladelpast six months (see_footnote to table) is due to charging to tlie recon­

216

THE CHRONICLE.

phia for the quarter ending June 30, as filed with the city
authorities, compares as follows:
Cubic feet of Gas—
1906.
1905.
1904
3 months
______
1,637,865,210
6 m o n th s_________________ 3,566,407,540
6 months’ gross revenue___
83,566,407
Of which city receives_____
$356,640
— V .82, p . 1043.

1,533,925,530 1,476,399 .320
3,371,320,130 3,364,989 140
83,371,320
$3,364,989
$337,132
$336,499

Gorham Manufacturing Co.— Merger Plan Abandoned.—The shareholders will vote Aug. 1 on a proposition to abandon
the plan to merge the company with the Silversmiths Com­
pany of New York, as advised by counsel. A circular states
that a reliable offer has been received for the sale of stock in
other companies owned by the Gorham Manufacturing Co.
for $1,627,440, including the Whiting Manufacturing Co.,
Silversmiths companies (of New York and New Jersey),
Wm. 13. Durgin & Co. and Wm. B. Kerr Co. The William
B. Durgin Co. has, we learn, recently purchased the
business of Goodnow & Co. with a factory in Boston, which
will be combined with the Durgin works at Concord, N. H.
The arrangement to sell is made upon condition that all
stockholders, without distinction as to class, may participate
in the purchase pro rata according to their several holdings.
Compare V. 82, p. 1215, 1043.
Home Telephone & Telegraph Co. of Los Angeles.— Bonds.
The bond department of the Merchants’ Trust Co., Los An­
geles, Gal., last February, when offering a block of the first
mortgage bonds at 96 and interest and “ first and refunding”
bonds at 923^ and interest, said:
First, mortgage 5% sinking fund gold bonds, authorized and outstand­
ing, $2,500,000; dated Dec. 31 1902; due Jan. 1 1933. Denomination
$1,000. Bonds not optional. Annual sinking fund from Oct. 1 1907
2% of outstanding issue to redeem the bonds at maturity, or before that
date at a price not higher than 105
“ First and refunding” 5% sinking fund gold bonds, total authorized,
$5,000,000; outstanding, $250,000', dated July 1 1905; due July 1 1945.
Denomination $1,000. Optional at 105 and interest on July 1 1920,
or upon any semi-annual interest period thereafter. Fifty per cent of
the issue is retained in the treasury to redeem the first mortgage bonds
at maturity, or sooner if a satisfactory basis of exchange is agreed upon,
and the balance is to be sold from time to time as extensions and improve­
ments are made, the bonds being issued only for 75% of the cost of the
work done.
Interest on both loans is payable Jan. 1 and July 1 at the National
Bank of California, Los Angeles, Cal., the National City Bank, New York.
Trustee under both mortgages, Title Insurance & Trust Co., Los Angeles,
Cal. Company operates under a 50-year franchise.

Stock authorized $3,000,000 each of common and pre­
ferred; outstanding $500,000 common and $2,500,000 pref.;
par of shares $100. Usual dividend rate on pref. shares 4%
per annum, payable quarterly in February, &c.— V. 79, 736.
Indiana Southern Coal Co.— Control.— See Southern Indi­
ana Ry. under “ Railroads” above, and compare V. 83, p. 40.
International Power Co.—Report of Subsidiary.— See re­
port of “ American & British Manufacturing Co.” under
“ Annual Reports” on a preceding page of this issue.— V. 82,
p. 51.
Iron Mountain Co., St. Louis.—-Dissolution of Historic
Company.— The shareholders at a recent meeting voted to
dissolve the corporation for the reason that it “ has not been
actively engaged in business operations for a long time past,
and has no indebtedness; and the aggregate value of the assets
has been reduced, by depreciation in the value of its real
estate, to a small percentage of its capital stock of $3,600,000 ” (par of shares $100). St. Louis “ Globe Democrat” says:
A t F a r r i n g t o n , M o . , o n J u l y 2 5 J u d g e K i l l i a n a u t h o r i z e d t h e d i s s o l u t i o n o£ t h e
c o m p a n y , V a lle R e y b u r n , I. G . W . S t e e d m a n a n d M o n ta g u e L y o n o f S t . L o u is b e ­
i n g a p p o i n t e d t r u s t e e s t o d i s p o s e o f t h e c o m p a n y 's la n d s a n d o t h e r p r o p e r t y , a n d
t o m a k e a fin a l s e t t le m e n t w it h t h e s t o c k h o l d e r s .
T h e w in d in g u p o f t h e a f fa ir s o f
t h e c o m p a n y w ill c a u s e t h e d i s t r i b u t i o n o f n e a r l y $ 1 , 0 0 0 , 0 0 0 .
T h e c o n c e r n w a s o r g a n i z e d 40 y e a r s a g o w h e n a g r e a t s u p p l y o f s u p e r i o r i r o n o r e
w a s d i s c o v e r e d w i t h i n 8 0 m ile s o f S t . L o u i s .
T h e d is c o v e r y ca u se d th e co n s tr u c tio n
o f t h e I r o n M o u n t a i n R R . . w h ic h t r a n s p o r t e d t h o u s a n d s o f t o n s o f t h e m i n e r a l t o
m a rk et.
I t w a s d i s c o v e r e d in 1 9 0 0 a f t e r e x p e n s i v e e x p l o i t a t i o n t h a t t h e l a n d s w e r e
n o l o n g e r v a l u a b l e a s m in e r a l d e p o s i t s .
T h e t o w n o f I r o n M o u n ta in , o n c e th e h o m e
o f 6 ,0 0 0 s o u ls , d w i n d l e d d o w n t o a p o p u l a t i o n o f f i f t y p e o p l e .
L a n d s b e lo n g in g to
t h e c o r p o r a t i o n w e r e s o l d a n d t h e r e m a in in g p o r t i o n s a r e t o b e c o n v e r t e d i n t o a
s t o c k f a r m b y W i l l i a m S m o l li n g e r .
A f t e r h a v i n g p a i d 2 0 0 % in d i v i d e n d s , t h e re ­
m a i n i n g a s s e t s i n c lu d e m o r e t h a n 1 2 ,0 0 0 a c r e s o f l a n d i n W a s h i n g t o n , M a d i s o n ,
J e ffe r s o n , S t . F r a n c o is a n d I r o n c o u n t ie s ,
c o n s id e r a b le re a l e s ta te in S t . L o u is ;
v a l u a b l e le a s e s t o t h e H e m a n C o n s t r u c t i o n C o . f o r g r a n i t e a n d t h e S y e n i t e G r a n it e
C o . : 1 2 9 s h a r e s a n d $ 1 1 ,0 0 0 fir s t m o r t g a g e b o n d s o f t h e W a b a s h C h e s t e r & W e s t e r n
R R . : $ 1 1 2 ,1 2 3 c a s h o n d e p o s i t a n d t w o n o t e s v a l u e d a t $ 3 0 ,0 0 0 .
Jam es H a r­
r i s o n w a s t h e f ir s t P r e s i d e n t .

[VOL. LXXXI1I.

Monroe (Mich.) Gas Light & Fuel Co.— Bonds Offered.—
W. E. Moss & Co., Detroit, are offering at par apd interest
$101,000 of this company’s 5% mortgage gold bonds dated
Aug. 1 1906; authorized issue $150,000, of which reserved
(1) for extensions $25,000; (2) to retire Monroe Gas & Elec­
tric Light Co. bonds $24,000. Further facts another week.
Montreal Light, Heat & Power Co.—-Contract with New
Hydro-Electric Company.— The last annual report (V. 82,
p. 1436, refers to the hydro-electric power development of
the Provincial Light, Heat & Power Co. at Cedar Rapids,
Que. While this is a distinct corporation, the Montreal
Light, Heat & Power Co. has undertaken to construct the
plant, and has also contracted for the entire output thereof
when completed (see V. 82, p. 1436).
The plans of the Provincial Light, Heat & Power Co. call for a 15,000
h. p. electrical power plant to be erected at Cedar Rapids, Que. Water
will be taken from the Soulanges Canal, drop 55 ft. to the water-wheels,
and will thence discharge through the taiirace into the St. Lawrence
River at the Rapids. The contract involves the construction of a canal
half a mile long and 160 ft. wide. It is estimated that there will be about
300,000 cubic yards of excavation required. The power house, penstock
and dam will be constructed of reenforced concrete. The units will be
of 5,000 h. p. capacity each.— V. 83, p. 99.

Montreal Steel Works, L td.— Dividends.— The directors
on June 18 declared the usual quarterly dividend of l % %
on the $800,000 preferred stock and an interim dividend
of 2)^% , payable July 7, on the common stock, the earnings
warranting a payment prior to the close of the fiscal year,
which ends Dec. 31.
Originally the Canada Switch & Spring Co.; present name adopted
in July 1903. Makes steel castings by the open-hearth process. Author­
ized capital stock: Preferred 7% cumulative, 8800,000, all outstanding;
common, $700,000, full paid. Bar of shares, 8100. No bonds or mort­
gage. The common shares on March 21 1906 received 7% for the year
1905; in March 1905, 5% for year 1904.
Net earnings for year 1904, it is stated, were $116,090; deduct for
reserve fund, $19,235; preferred dividend (7 % ), $56,000; common divi­
dend, $20,000; balance, surplus, $20,855. President, K . W . Blackwell;
Vice-President, Secretary and Treasurer, Chas. H. Godfrey, Montreal.

Provincial Light, Heat & Power Co., Cedar Rapids, Que.
— New Plant.-—See Montreal Light, Heat & Power Co. above.
Northwest Light & Water Co., W ashington.—Possible
Sale.— See North Yakima in State & City Department.
Omaha Water Co.-—Appraised Value.— The Board of
Appraisers selected in 1903 to fix and appraise the value
of the water works of the Omaha Water Co. preliminary to
the purchase of the property bjr the city has, under date
of July 7, made its report. They place the value of the
entire property at $6,263,295. The board is composed of
three engineers, consisting of John W. Alvord of Chicago,
representing the city; George H. Benzenberg of Milwaukee,
for the Water Co., and Daniel W. Mead of Chicago, who was
selected by the two first named as the third appraiser.
Messrs. Benzenberg and Mead signed the report and Mr.
Alvord dissented.
Mr. T. C. Woodbury, the President of the Omaha Water
Co., has filed a suit in the U. S. Circuit Court for the District
of Nebraska to compel the city to purchase the property at
the value fixed by the appraisers. The Omaha Water Co.
has $4,733,000 bonds outstanding.— V. 82, p. 1443.
Peck, Stow & Wilcox Co.— Special Dividend.— Besides the
regular quarterly dividend of 23^%, payable Aug. 1, a
special dividend of 5% has been declared, payable Aug. 15.
Special dividends were also paid in previous years. Com­
pare V. 77, p. 301; V. 75, p. 345.
People’s Light Heat & Power Co. of Springfield, Ohio.—
Terms Rejected.— The “ Ohio State Journal” on-July 20 said:
When the New Jersey people asked for a cash price on the plant the
board of directors fixed a price of $101 a share for the $500,000 of pre­
ferred stock and $30 a share for the 51,500,000 of common stock, which,
with the $96,000 of bonds, would have made over $1,000,000 for the
plant. This did not appeal to the foreign crowd and negotiations were
declared off.

Bond Issue.— The shareholders on July 7 authorized the
making of the proposed mortgage to secure an issue of $250,000 (not $200,000) 5% bonds. Compare V. 83, p. 41, 159.
Pittsburgh Coal Co.—Report for Half-Year.— The results
for the half-year ending June 30 were:

Lake Cities Electric Co.— See Michigan City Light & Power
Gross
Deprec’n Deprec’n
Int. on
Balance,
Co. below.
Sixmos—
Profits, coal lands, plant,&c. 1st M .bds. surplus.
1906 __________ $2,384,422 $369,844 $568,184 $588,058 8858,336
Lawyers’ Mortgage Co., New York.— Semi-Annual Report. 1905 ___________ 1,475,732 276,060
63,339 609,100
527,233
— See page xvi of advertisements of the last issue of the
From the surplus as above in 1905 dividend No. 21 on
“ Chronicle.” — V. 82, p. 283, 221.
the preferred stock (l% % ).p a id April 1905 was deducted;
Manhattan Beach Hotel & Land Co.— Time for Deposits no dividend has since been paid
Production.— The production for the 6 months compares:
Expires Aug. 15.— The Protective Committee, Moses Will­
iams, Chairman, announces that deposits of the general
Six months—
1906.
1905.
1904.
6,075,946
4,916,524
mortgage bonds must be made at the State Street Trust Co. Pittsburgh District_______ (ton s).8,236,390
Hocking District__________ (tons). 653,137
556,479
537.724
in Boston, or the Bankers’ Trust Co. in New York, on or Coke— Pitts. District_____ (tons). 214,658
168,236
86,174
before Aug. 15 1906.— V. 82, p. 1443, 1104.
— V. 82, p. 1443.
Rates for Grain.— Sharp Reduction.— The unsettlement of
Michigan City (Ind.) Light & Power Co.— Bonds.-—This
company, which was incorporated in Indiana on Nov. 25 grain rates which began some months ago, when the Chicago
1905 and acquired the local power plant and electric light and Great Western (see V. 82, p. 279) reduced its rate from the
power franchise of the Lake Cities Electric Co. (foreclosed, Missouri River to Chicago to 1 0 ^ c. and announced its in­
the Northern Indiana Ry. acquiring the trolley road), re­ tention to do the elevating free in its own elevators, has this
cently made a mortgage to the American Trust & Savings week resulted in a reduction r c 2% c. per 100 pounds on
Bank, Chicago, trustee, to secure an issue of $200,000 5% all grain and grain products from Missouri River points to
Chicago and a cut by the Wabash of 4)4c. in the rate on
gold bonds of $500 each, of which $60,000 outstanding.
wheat and flour from the Missouri River to New York and
fY Capital stock, $150,000, all of one class and all outstanding; par, $100. other Atlantic seaboard points.
A press dispatch says:
Bonds dated March 1 1906 and due March 1 1926, but subject to call on
any interest date at 102. Interest payable Sept. 1 and March 1 at office
o f trustee. There are no prior liens. President, Alexander A. Boyd;
Secretary, Robert F. Garrettson; Treasurer, William H. Schoenemannl

The Stickney line quoted a rate of 8 c. on flour, as against lO ^ c.
charged by the other lines on flour, and a similar rate oil "wheat. The
St. Paul road at once came to the relief of the Chicago grain men and

THE CHRONICLE.

J u ly 28 1906.J

quoted an 8c. rate on both wheat and tlonr front Missouri lliver points to
Chicago and Sc. on flour to Minneapolis. This tariff was issued \Vt duesda.v. The Great W estern retaliated by quoting the same rate on wheat
and flour and making a 7c. rate on corn, oats, rye and barley
The
Wabash then quoted a rate from Missouri River points to New York of
I 8 J4 C., and provided for the absorbtion of the “ fobbing” charge of 1 ;.,e.
.
This rate was made up of the Sc. rate to Chicago and the regular propor­
tional rate of 10s4 c. from Chicago to New York. Hasty conferences
were called for to-day and the cuts are likely to be met. The low rate
tariffs are all limited and are effective only until Aug. 25, two days before
the new law goes into effect ; otherwise it would be necessary to give thirty
da vs’ notice before restoring the rates.
Railroad men believe that the readjudication of the Union Pacific-Peavey
Elevator contract case will result in removing the source of trouble, and
the rates will soon come back to the old basis.— X . 78, p. 1910.

Southern New England (Bell) Telephone Co.—Earnings.—
Earnings for the three months and also for the half-year
ending May 31 1906 were as follows:
Period—

Gross.

mos. ending May 31 - — §437,511
mos. ending May 31___ S32.910
— V. S2. p. 137S.
3
6

Net.

885,375
163.051

Dividend.

Surplus.

(1M % ) S75.000
(3% )
150,000

810,375
13,651

Stark-Tuscarawas Breweries Co., Ohio.—Earnings.—W.
V. Jackson in the ‘‘ Ohio Sta^e Journal” of July 21 gives the
following financial statement:
F o r th e s ix m o u t h s e u d i n c J u n e 3 0 1 9 0 6 th e s u r p lu s e a r n in g s o v e r a ll f ix e d c h a r g e s
a n d e x p e n s e s w e r e S 5 4 .7 9 8 . a n in c r e a s e o f § 1 6 . 7 1 3 o v e r th e s a m e p e r i o d o f 1 9 0 5 .
T h e s u r p lu s e a r n in g s f o r t h e s ix w e e k s e n d i n g J u n e 3 0 w e r e § 2 0 . 0 1 8 . a g a i n s t § 2 0 .2 9 4
f o r t h e s a m e p e r io d o f la s t y e a r , o r a d e c r e a s e o f $ 2 7 6 .
H o w e v e r , t h e g r o s s e a r n in g s
f o r tiie s a m e t im e s h o w a n in c r e a s e o f a b o u t $ 2 , 0 0 0 o v e r t h e s a m e p e r i o d o f la st y e a r .

217

The (Commercial Times.
C O M M E R C IA L E P IT O M E .
Friday Night, July 27 1906.
Despite the fact that there is some of the usual diminution
in general business observable at this time of the year, the
volume of transactions is large, orders of goods for fall de­
liver}'- are liberal and prices are very generally steady. The
feeling almost everywhere in this country is cheerful. The
crops as a rule promise well. There is comparatively little
speculation, the activities of the country being employed
for the most part in strictly legitimate business.
LARD on the spot has been quiet, with slight changes in
quotations; City 824c., Western 9c. Refined lard has been
in light demand with prices generally steady; Continent
9.40c., South American 10c., Brazil in kegs 11c. The specu­
lation in lard futures at the West has been moderately active.
Prices have shown more or less irregularity.
PORK has been in moderate demand with quotations
generally unchanged; mess, old, 818 75@$19; new, 819 50@
820; clear $17@$18 75, family 819,50. Cut meats have
ruled firm with a larger export trade in hams; pickled shoul­
ders 834c., pickled hams l'2^@ 12}4c. and pickled bellies,
11@10 lbs., 1134@1234c. Beef has been fairly active with
some grades higher; mess |8@$8 50, packet $9@$9 50,
family $10@$10 50, extra India mess $15@$16. Tallow
has been fairly active and steady; City 4J4@5c.; the market
is well sold up. Stearines have been quiet and firm; oleo 9c.,
lard 1034c. Butter has been fairly active and steady;
Western extras 2034@21c. Cheese has been in good de­
mand and firmer; State factory 1134c. Eggs have been
fairly active and firm; Western firsts 18@1834c.

The effect on the company of the new Aiken Law, which
was in effect for the last six weeks of the half year, it is said
was probably less than in the case of any other of the Ohio
brewery consolidations, as the company has so little saloon
property.—V. SO, p. I486.
Swift Refrigerator Transportation Co.—New Stock.—This
Maine incorporation has filed a certificate of increase of
authorized capital stock from $2 ,000,000 to $5,000,000.—
V. 77, p. 2287.
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Toledo Portland Cement Co.—Sale August 6 .—This com­
Sat.
Mon.
Tues.
Wed.
Thurs.
Fri.
pany's property is advertised to be sold at auction on Aug. 6 - July delivery________ 8.75
8.87J^ 8.90
8.85
8.82)4 8.8214
Properties consist of 234 acres of marl and clay lands, factory site of September delivery__ 8.85
8.92Vz 8.97)4 8 . 9 2 8 . 9 0
8.90
23 acres, buildings and foundations, with a capacity of 1,000 bbls. of October delivery____ 8.90
8.97)4 9.05
9.00
8.97 )4 8.95
finished cement a dav, side track, machine shop equipment, &c. It is
announced that 8115.000 has been expended on plant . W . L. Watkins,
OIL. Cottonseed, has been in fair speculative and spot de­
122 South Main St., Ann Arbor, Mich., is receiver.— V. 82, p. 1216.
mand with quotations generally steady; prime summer yel­
United Gas Improvement Co. of Philadelphia.—Results low 3734c., prime winter yellow 40c. Linseed has been
in Philadelphia.— See Equitable Illuminating Gas Light of quiet and firm. Buyers continue to hold aloof in the belief
that prices will decline. Crop prospects continue very fav­
Philadelphia above.— V. 83, p. 42.
United Shoe Machinery Corporation.—Placed on Regular orable on an enlarged acreage. Sellers, however, show
List in Boston.—The Boston Stock Exchange has listed no disposition to shade quotations; City, raw, American seed,
649,902 common and 371,924 preferred shares. Stock 38@39c.; boiled, 39@40c.; Calcutta seed, raw, 68c. Lard
authorized is 1,400,000 shares of common and 600,000 has been in fair demand and firm; prime, 69@71c. Olive,
quiet and steady; yellow, 56@58c.; green, 58@60c. Cocoashares of preferred, par value 825.— V. 82, p. 1436.
nut has advanced; advices from Colombo state that the
United States Glucose Co.— Dissolution.— See Corn Pro­ market for Ceylon is bound to go very much higher; Cochin,
ducts Refining Co. above.— V. 70, p. 743.
834@8£4c.; Ceylon, 734@” //sC- Peanut, quiet and steady;
United States Sugar Refinery, Waukegan, 111.— Dissolu­ white, 55@65c. Cod, dull and steady; domestic, 35@36c.;
tion.—See Corn Products Refining Co.above.— V. 69,p. 1252. Newfoundland, 38@40c.
COFFEE on the spot has been more active and prices have
Utah-Apex Mining Co.— Sale of Bonds.—The company, it
is said, has sold 8100,000 first mortgage 5% convertible advanced, partly because of the increased demand and
bonds to Hayden, Stone & Co. at par and interest. Com­ partly owing to an advance in the future market. Rio No. 7,
834 @ 834c.; Santos No. 4, 9c. West India growths have
pare V. 82, p. 1383.
Virginia Rate Law.— Two-Cent Act Void—Appeal.—A been quiet and easier; fair to good Cucuta, 824@934c - The
press dispatch from Richmond, Va., yesterday, announced market for future contracts has advanced with the trading
that the State Corporation Commission has declared the on a larger scale than for some time past. The principal
Churchman two-cent railway mileage Act in conflict with stimulating factor has been the indication of an early passage
the Constitution of the United States, and therefore null and of the Valorization bill by the Brazilian Congress. Shorts
void. The Attorney-General has taken steps to appeal the have covered freely, foreign houses have been good buyers
case to the Supreme Court of the United States. The Act, and there has been more or less long buying by local and
which provides for the sale of 500-mile ticket books on the Wall Street interests.
The closing prices were as follows:
railways at two cents a mile, was discussed in our editorial
columns last week (page 121).
J u ly ---------------- 6 ,75c. |
November_____ 6.95c. IMarch___________ 7.30c.
6.75c. December______7.05c. April____________
Westinghouse Electric & Manufacturing Co.—Report.— August------------ 6.80c. January________ 7.15c. IM a y ____________ 7.35c.
7.45c.
September____
O ctober_______ 6.80c. |
February______7.20c. IJune____________ 7.50c.
See “ Annual Reports” on a preceding page.
Directors.— At the annual meeting on July 25 the board
SUGAR has been dull but firm, as offerings have been
was increased from 11 to 12 members. Treasurer J. W.
Siemon and W. D. Uptegraff were elected directors to fill light; centrifugal, 96-degrees test, 334c -i muscovado, 89-de­
the new position and to succeed James Hazen Hyde.— V. grees test, 334c.; molasses, 89-degrees test, 3c. Refined has
advanced with a brisk demand; granulated 4.70c. Spices
82, p. 1384.
have been quiet and steady. Teas have been firm with an
Yale Transit Co., Buffalo.—Bonds.— Hayden, Miller & improved demand for samples from all parts of the country.
Co., Cleveland, recently offered at prices to net 534% a small Hops have been quiet and firm; increased activity is ex­
lot of this company's 8100,000 first mortgage 6 % bonds, pected in the not distant future, as brewers’ stocks are
due 810,000 yearly on Jan. 1 from 1907 to 1916, but subject generally light.
to call on Jan. 1 1910 at 105 and interest.
TOBACCO has ruled quiet and steady, the dulness of
B o n d s d a t e d A p r i l 2 1 9 0 6 ; d e n o m i n a t i o n $ 1 ,0 0 0 ; in t e r e s t ( J a n . a n d J u ly 1) p a y ­
trade being offset by the lightness of supplies. Reports in
a b le a t o f fic e o f t r u s t e e . F i d e l it y T r u s t C o . o f B u ff a l o .
M o r t g a g e c o v e r s th e s t e e l
regard to the new crop of Havana indicate that the quality
s t e a m s h ip Y a le o f B u f f a l o . c a p a c i t y 5 .4 0 0 t o n s , o r ig in a l c o s t , $ 2 1 0 ,0 0 0 .
The
v e s s e l h a s r e c e n t ly p a s s e d i n t o t h e h a n d s o f th e B o l a n d -B r o w n in t e r e s t s o f B u ff a lo ,
is low with the yield smaller than that of last year. Reports
w h o w ill c o n t in u e t o o p e r a t e h e r in t h e p r o f it a b le p a c k a e e -f r e ig h t a n d o r e t r a d e .
I n s u r a n c e a g a in s t a l l r is k s t o b e a t le a s t $ 2 0 ,0 0 0 in e x c e s s o f t h e o u t s t a n d in g b o n d s .
from Kentucky are generally to the effect that the new crop
is making favorable progress.
PETROLEUM has been active and strong. Refined,
—Denison & Farnsworth of Boston and Cleveland an­ barrels, 7.80e.; cases 10.30c., bulk 4.70c. Naphtha, 73©
nounce the admission into the firm (on the 25th inst.) of 76 degrees, 17c. in 100-gallon drums. Gasoline, 89 degrees,
Charles E. Denison. The co-partnership w-as formed the 20c. in 100-gallon drums. Spirits of turpentine has been
present year by George B. Denison and Edward M. Farns­ quiet and easy at 60@6034c* Common to good strained
worth.
rosin steady at S3 85@$3 90.
—W. Forbes Morgan Jr. retired on the 24th inst. from the
COPPER has been firm -with a larger export trade; lake
banking firm of E. Rollins Morse & Bro., of New York and lS-J'gc., electrolytic 18-Kc. Lead has been in moderate de­
Boston. The co-partnership is continued by E. Rollins mand and firm at 5.75@5.80c. Spelter lias been firm with
Morse and George W. Parker.
a fair demand at 5.95@6.05c. Tin has been quiet and
—A branch of Dick Bros. & Co. will be opened on Aug. 1 steady; spot 36.60@36.95c. Iron has been fairly active
in Boston at 53 State Street. It will be under the manage­ and firm; No. 1 Northern $18 75@$19, No. 2 Southern
S17 25(5,817 50.
ment of F. E. Thompson.

218

[VOL. LXXX11L

THE CHRONICLE.

On Shipboard, Not Cleared far—

C O T T O N .
27 1906.
TH E MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For
the week ending this evening the total receipts have reached
30,538 bales, against 25,601 bales last week and 27,440
bales the previous week, making the total receipts since
the 1st of September 1905 7,686,891 bales, against 9,775,014
bales for the same period of 1904-05, showing a decrease
since Sept. 1 1905 of 2,088,123 bales.
F r i d a y N ig h t, J u l y

Receipts at—

Mon.

Sat.

Galveston___
Pt. Arthur, &c
New Orleans..
Mobile ..........
Pensacola, &c.
Savannah _ .
Brunswick . .
Charleston
Georget'n,&e..
Wilmington __
Washington,&c
Norfolk . ___
N’port N ., &c.
New York___
Boston______
Baltimore___
Philadelphia _

1,047

Totals this wk_

480

820

__________

866
153

724
764

1,997
49

1,287
120

3,089
212

1,137

1,455

2,413

1,118

1 ,021

123

300

107

104

Total.
4,790
116
9,086
1,667

1,151
116
1,123
369

866

426

___

_

Fri.

Thurs.

Wed.

Tues.

__________

668
39

__________

__________

____

__________

11

467

130

25

551

20

3,588

4,981

6,065

682

__________

___

504

8,619

__ _

35

13

____

25
237

_

___________

1,475
92

1,089

____

361

6,290

3,326

___

__________

9
998
100

—

3,784

128
___________

__________

251
—

__________

429
998
697

5,829 30,538

The following shows the week’s total receipts, the total
since Sept. 1 1905, and the stocks to-night, compared with
last year:
Stock.

1904-05.

1905-06.

Receipts to
W.July 27.

This Sep Since This Since Sep
week.
1 1905. week. 1 1904.

Galveston.. .
Pt. Arthur, &c.
New Orleans . .
M obile___
Pensacola, &c_
Savannah ___
Brunswick___
Charleston___
George:'::, &c_
Wilmington
W ash’gton, &c.
Norfolk .
Newp’t N’ws&c
New Y o r k ___
Boston
Baltimore
Philadelphia __

1906.

4,790 2,530,021 34,526 2,747,496 ■ 15,433
289,187
116 149,530
46,715
9,086 1,630.123 19,139 2,625,986
1,667 245,740 1,195 323,008
6,450
168,908 4.916 204,892
38,752
8,619 1,479,206 20,109 1,813,567
184,548 1,288 200,101
700
682 173,229
817 218,896
4,984
902
1,251
128 325,577 2,910 371,336
539
122
12,262
3.326 632,289 10,607 766,155
22,034
463
26.856
6.575
281
33,350
97,120
3,522
429
63,441
805
78,267
99S
38
64,770
61,714
2,318
99
697
9,649
13,179
2,283
30,538 7,686,891 97,193 9,775,014

Total _ _

231,078

1905.
79,625
69,254
4,114
49,837
2,929
4,694
11,210
21,673
135,050
3,431
9.404
1,344
392,565

In order that comparison may be made with other years,
we give below the totals at leading ports for six seasons:
Receipts at-

4,906
9,086
1,667
8,619
682
128
3,326

Galv’n, &c_
N. Orleans.
Mobile___
Savannah .
Ch’ston, &e.
Wilm’n,&cN orfolk__
N’p ’t N„ &c.
All others. _
Tot.this wk.

1905.

1906.

1904.

1903.

1,153
5,795
177
3,578
156
92
1,055

2,124

34.526
19,109
1,195
20,109
817
2,910
10,007
463
7,427

30,538

97,193

69
835
1
14
39

1902.

1901.

2.337

10
178
. 402

463
8,815
927
2,158
1,776
1
1,659
958
432

4,786
8,26S
369
3,357
1,296
45
2,037
271
2,562

14,343

1,548

17,189

23,021

Other Coast- |
Ger­
Great
July 20 at— Britain. France. many . Foreign wise. ; Total.
New Orleans
Galveston __
Savannah__
Charleston .
Mobile........
Norfolk . . . .
New York.
Other ports.

8,363
4,447
600
1,700
500
400

7,347
271

186

2,770
. 600

384
589
300
200
____ 1
6,400
____

945
900
500

100
—

Total 1906 16,010
Total 1905 37,164
Total 1904 4,352,

1,231 9,018
3,698 12,484
878 1,010

1,000

L aving
stock.

19,050'
5,907
300
2001
1,545
8,100!
2,500
900

—

4,370 7,873 38,502;
9,518 21,166 84,030,
1,123 2,533 9.896

27.665
9,526
38,452
4,784
4,905
4,162
94,620
8,462
192,576
308,535
95,751

The speculation in cotton for future delivery has continued
on a very small scale at a gradual decline in prices. This
decline is attributable to generally favorable weather, very
cheerful crop accounts from many parts of the belt, particu­
larly from that portion lying .west of the Mississippi, the
disturbing news from Russia and a steady liquidation to
say nothing of more or less selling for short account. Some
disturbance of the stock markets has also not been without
its effect, following the recent outbreaks in Russia, which
have, moreover, led some to question whether the world’s
consumption of American cotton is likely to be as large during
the coming season as it has been during the past year. In
any case they fear that the cotton-manufacturing interests
of Europe may deem it advisable to proceed on a very con­
servative scale until the outlook clears up. Many have pre­
ferred to await the publication of the August report by the
Agricultural Department, while others are holding aloof
awaiting developments during the next four or five weeks,
which are usually a critical period in the development of the
plant. The South has sold to some extent and rumors that
leading bull interests were liquidating their holdings have
also been a factor in the week’s decline. Large spot interests
have at times sold the new-crop months, but of late they
have bought summer deliveries to some extent. To-day
prices declined at first under the weight of notices for August
delivery variously estimated at from 30,000 to 40,000 bales,
but later, when it was seen that the issuers of these notices
were stopping them, there was a rally which was assisted
by a fair amount of covering of shorts. A somewhat more
pacific outlook in Russia and the better tone of the stock
markets also assisted the recovery. The short interest is
said to be large and there are reports that a good deal of
■new cotton has been already sold by exporters, which sug­
gests the possibility at
leastthat the first arrivals of the
crop may not prove so muchof a burden as they have at
times in the past. A reduction in insurance charges here
following the adoption of stipulated precautions in the matter
of cotton storage renders it less difficult to hold cotton at
this point. July, however, declined sharply at New Orleans,
and as regards August here it was noticed that the d:scount
under September and October was at one time yesterday
considerably increased.Most of
the next-crop months
closed higher for the
dajq the pressure being mainly
on August, which ended at only a small net decline in spite
of this fact. Spot cotton has been quiet during the week
at a decline of 10 points, middling uplands being quoted
at 10.90c.
Sat.

Mon.

Tues.

Wed.

Thurs.

Fri.

Since. Sep 1. 7,686.891 9,775,014 7,105,480 7,627,047 7,437,079 7,513,736

Good Ordinary________
Low Middling _ _
Middling
Good Middling
Middling Fair .

10.00
10.62
11.00
11.44
11.96

9.90
10.52
10.90
11.34
11.86

9.90
10.52
10.90
11 .34
11.86

9.90
10.52
10.90
11.34
11.86

9.90
10.52
10.90
11.34
11.86

9.90
10.52
10.90
11.34
11.86

The exports for the week ending this evening reach a
total of 23,557 bales, of which 3,537 were to Great Britain,
1,905 to France and 18,115 to the rest of the Continent.
Below are the exports for the week and since Sept. 1 1905.

GULF.
Good Ordinary________
Low Middling___
Middling _ _ Good Middling
Middling Fair

10.25
10.87
11.25
11.69
12.21

10.15
10.77
11.15
11.59
12.11

10.15
10.77
11.15
11 .59
12.11

10.15
10.77
11.15
11.59
12.11

10.15
10.77
11.15
11.59
12.11

10.15
10.77
11.15
11.59
12.11

STAINED.
Low Middling
Middling -------—
Strict Low Mid. Tinged.
Good Middling Tinged..

9.50
10.50
10.66
11.00

9.40
10.40
10.56
10.90

9.40
10.40
10.56
10.90

9.40
10.40
10.56
10.90

9.40
10.40
10.56
10.90

9.40
10.40
10.56
10.90

Week ending July 27 1906.
Exported to—

Exports
from—

Great
Conti­
Britain. F t’nee nent.

Galveston___
Pt. Arthur, &c.
New Orleans - „
Mobile .............
Pensacola___
Savannah ___
Charleston
Wilmington__
N orfolk _____
Newport News
New Y o r k ___
Boston ______
Blatim ore___
Philadelphia _.
Portland, Me _
San Francisco.
Seattle ______
Tacoma _
Pem bina__
D e tr o it_____
Total

__

—

—

788 1,755
—

1,286

7,125

—

—

'i s o

Y /jlS
95
500
353

1,463
—
—

8,056

21
47

Total.

From Sept. 1 1905 to July 27 1906.
Exported to—
Great
Conti­
Britain. France. nent.

8,056 1,015,484 287,572
46,875
9,668 738,164 240,660
54,451 39,140
77,227 39,993
198,282 70,554
.........
108,068
5,500
139,595 5,225
12.545 9,000
6,792
3,354 174,035 25,556
95 135,396
83,842 13,974
1,963
35,306
353
1,880
2i
. . .

4!
8,834

Total.

766,706 2,069,762
66,200 113,075
546,335 1,525,159
43,219 136,810
49,332 166,552
660,293 929,129
40,483 148,551
9,900
4,400
175,263 320,083
24,822
3,277
225
7,017
289,929 489,520
10.032 145.42S
55.S33 153,649
3,512
38,818
1,880
37,983
37,983
51,883
51,883
12 ns9.
12 O 2
S
4.S4N
4,848
4.0JVV
8,834

3,537 1,905 18,115 23,557 2,842,276 731,674 2,826,7446,400.694

Total 1904-05. 34,49423.239 42,277 100,010 3,942.033 S37,563 3,625,S03 8,405,399

In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.

UPLANDS.

The quotations for middling upland at New York on
July 27 for each of the past 32 jmars have been as follows:
1906-C_10.90
1905___11.05
1904___ 10.70
1903___13.50
1902____ 9 1-16
1901____ 8 Vs
19 00 -1 0 1-16
1 8 9 9 -_ - 6VS

11898.
6 1-16
1 8 9 7 --. 7 15-16
1 1 8 9 6 --. 7 3-16
11895___ 7
! 1 8 9 4 --. 7
1 8 9 3 -_ . 8
1S92_
_ 7H
i 1 8 9 1 --. 8

1890-C.12M
1 8 8 9 --.il 5-16
1888. .10 13-16
1887- -lOVs
1886- . 9 K
1885. .10 H
1884. .11
1883. .10

1882. 12
1881. - - 1 1 M
1880. - . 11^
1879. -.12 11-16
1S78. __11 11-16
1877. __12ts
1876. - - 1 1 H
1875. - - i m

M ARKET AND SALES.
Spot Market
Closed.
Saturday-Mondav__
Tuesday -Wednesday
Thursday
Fnday___
Total--.

Futures
Market
Closed.

Quiet ----- ----Quiet. 10 pts. dec.
Quiet
Quiet
Q u iet___ _
Quiet _ —

Steady_____
Steady_____
Steady
Steady_____
Steady_____
Steady -----

Sales of Spot and Contract.
Con- Con­
Export sum’n. tract.

Total.

200

1.700 1.700
_
97
97 ; __
101
101
100
193
93
800
200
400

200

691 2,000 2,891

o
.0 X

H
o
I
—I
5zi
O
A*»

Eufaula,
Montgomery,
rl
J
Selma,
O
Helena,
Little Rock,
c ^
n
Albany,
0 b-j
*
Athens,
Atlanta,
Augusta,
Columbus,
Macon,
^ Ji
o
Rome,
Louisville.
C
O
Shreveport,
.S 5 0
'55 '5 75
Columubs,
Greenville,
O s ^ ~
Greenwood,
Meridian,
Natchez,
O'
Vicksburg,
O
Yazoo City,
St. Louis,
Raleigh,
Cincinnati,
b£
Greenwood,
£; a
Memphis,
Nashville,
Bren ham,
r_i w O C
L
O X rO Clarksville,
Dallas,
Honey Grove,
Houston,
Paris,

o

I^
0

b£
0
3
O

be
o
o
C5

e

_
A la b a m a _ _______
Arkansas __________
Georgia
1
1
i<

----------------

4I
I4

tl
tf
Kentucky, net______
Louisiana__________
Mississippi_________
C
4

C
O
W

50
437
308
6

455

2

325
732
1,041
85
16
101
86

54
25

__

44
44

163
23
19

4<

Missouri___________
North Carolina______
O h io ______________
South Carolina........ .
Tennessee__________
ii
Texas________ __

3,088
313
634
344
816
30

1

3,120

23,593
167,506
104,527
53,988
190,952
29,266
90,886
48,894
353,088
72,559
58.559
43,708
7,601
103,189
36,803
42,107
62,885
74,154
47,466
69,676
52,757
498,734
15,548
155,448
19,105
798,724
13,506
9,246
12,540
80.690
18,872
2,069,740
66,346

100

1,838
1,239
__
4,015
79
655
657
2,438
575
58
225
111

207
51
loo
1,175
670
770
5,625
325
993
37
1,318
30

1,625
4,918
3,483
61
20,286
1,500
7,043
1,514
16,592
11,246
4,385
3,281
75
1,356
375
293
500
4,165
245
1,589
389
23,646
822
6,530
4,292
8,454
623
740

3,615
—

___
___

14,041

Movemoit io July 28 1905.
Rec eipts.
Ship’Is Stocks.
Week. Season. Week. July 28
251
518
296
25
1,219
26
273
1,460
1,724
396
138
670
167
092
73
21

300
976
95
265

12
2,686

93
1,484
210

2,461
178
177

23,016

—

12,274 5,492,663 26,906 144,069

Total, 33 towns.

26,423
10
904
201,938
124,955
363
90,866
215,141
1,905
30,558
79
92,499
954
125,705
763
426,763 5,283
70,452 1,488
78,451
268
70,659
1,381
7,510
167
255,035
603
56,226
319
73,700
360
105,902
400
130,327 4,103
75,192
77
99,243
348
64,766
28
657,468 5,798
18,651
400
161,832 1,207
22,481
320
986.906
1,974
17,630
13
13,594
166
38,974
97,000
25
28,457
2,299,114 26,662
107,695
100

655
T3 O
4,189
r*
2,208 03
607 1 T 2 H 3
13,368 S °
£
435
3,174
10,599
10,141 ■ o
h
X
1,016 0 <-< +3 0
5,137 a 3 3;^a
3,611
x ^ ^
75 g 0 o GO
O
5,224 rH’j O C
1,826
411
2,000

7,878
1,695
2,747
604
27,025
1,443
11,771
952
13,258
4,681
1,688

175
21,407

200

39,902 6,852,113 56,368 160,200!

Saturday,
July 21.

Monday,
July 23.

Tuesday,
J 1 ly 2 1.

Wednesday,
July 25.

Thursday,
July 26.

Friday,
July 27.

Week.

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°* ° s H 03 Ph 0 X3 0
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CQ+l g S
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c3 - 4 -3
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Co Xo
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—
S£ 0 d d ^
V
Jvly—
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d 0 0^2
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Range 10,09 < 10.11 10,01 fa 10,08 10,00® 10,04 10,00®
&
—
@10.03 9.87® 9.97 9.87® 10.11 m Q cr1>
0 0
----- ci
Closing 10.09— 10 11 10.00-10.03 10.00—10.03 J0.00— 10.05 9.92— 9.96 9.85— 9.90 --- 03 03
00
A iwust—
.° o
Range 10.08 fa 10.14 10.01 fa 10.10 9.99® 10.11 9.95 fa 10.05 9.94 @10.05 9.82® 9.98 9.82 fa)l 0.14 S a g
a C l CD O
j
Closing 10.14— 10.15 10.05 10.06 10.00— 10.01 10.04— 10.05 9.95 - 9.96 9.91— 9.92 —
—
— oO o _
rH C
»O M
a '§ x ! 2 « P
C
O
Sept.—
0 0
10.1 4fa 10.21 10.11M 10.22 10.07 @10.15 10.08 @10.18 9.98® 10.09 9.9 8 @10.22 ° r ? g 3
Range 10.22®
—
—
P
p
Closing 10.24— 10.26 10.15 -10.17 10 .10— 10 . 11 10.15— 10.16 10.06— 10.08 10.06 -10.07 —
0
-H be^ k. , : 0 o
c
on —
0
3 Xh d ,L?gO.O.
• fn o
d 4->
Range 10.26 fa 10,33 10.17 (« 10.30 10.16® 10.26 10.14® 10.24 10.15@10.25 10.1 1fa 10.22 10.11 @10.33
03
P d cicot-o
—
—
Closing 10.32 10.33 10.21 — 10.22 10.16— 10.17 10.23— 10.24 10.16 10.17 10.20 -10.21 —
^ ^
Nov.—
Q 0
03 r")
Range 10.30 fa 10.31 10.20@10.28 10.21 fa, 10.27 10.20®
10.20® 10.22 10.20® 10.24 10.20® 10.31
c3
—
Closing 10.34- -10.36 10.23 -10.24 10.18— 10.19 10.25— 10.27 10.18— 10.19 10.22 -10.23 — —
O Tj
O O
- ^
-c L Q O
Dec.—
o a ’^ cD oo
rv. w X
4
0 X fx C C C
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THE CHRONICLE.

220

Q U O T A T IO N S F O R M I D D L I N G C O TTO N A T O T H E R
M A R K E T S .— Below are the closing quotations of middling
cotton at Southern and other principal cotton markets for
each day of the week:
Closing Quotations for M iddling Cotton on
W eek ending
July 2 7 .
G a lv e s t o n ___
New Orleans.
M o b ile ___
Savannah ___
Charleston.
W ilm in g to n . _
Norfolk .
B o s t o n ___
B a ltim o r e ___
Philadelphia
A u g u sta ______
M e m p h is ____
S t. L ou is____
H o u sto n . . . .
Little R o c k ..

Sat’d a y . M onday, Tuesday. W ed’d a y . Thursd’y. F r id a y .
11
10 15-16
10%
10 11-16

11
10 15-16
10%
10 11-16

11
10%
10%
10 11-16

11
10%
10%
10 11-16

11
10%
10%
10 11-16

11
10 11-16
10%
10 9 -16

10%
UR
11 .00
11%
11.25
U%
10%
11
11
10%

11%
11 .0 0
11%
11.15
11%
10 13-16
11
10%
10%

11%
10 .9 0
11%
11.15
11%
10%
10 15-16
10%
10%

H%
10.90
11%
11 .15
11%
10%
10 15-16
10%
10%

11%
10 .9 0
11%
11 .1 5
11 1-16
10%
10 15-16
10%
10%

11 1-16
1 0 .9 0
11%
11.15
11 1-16
10%
10 15-16
10%
10%

The closing quotations to-day (Friday) at other important
Southern markets were as follows:
A t l a n t a ____ _ _10 11-16 L o u is v ille ____ 11
C olum bus, G a _ 1 0 %
M o n tg o m e r y -, 1 0 %
C o lu m b u s .M is s .____
N ashville______ 1 0 %

N a tc h e z_______ _____
R a le ig h _______ 11
S h r e v e p o r t___ 10 3 -1 6

NEW ORLEANS OPTION MARKET.—The highest,
lowest and closing quotations for leading options in the New
Orleans cotton market for the past week have been as follows:
Sat’d a y ,
July 2 1 .

M onday, Tuesday, W ed ’d a y , Thursd’y, F rid a y
July 2 3 . J uly 2 4 . J uly 2 5 . J u ly 26. J uly 27'.

J uly —
•
R a n g e ____ 1 1 .0 0 -.0 1 1 0 .9 9 -.0 2 1 0 .9 0 -.0 0 1 0 .8 9 -.9 0 1 0 .7 5 -.8 6 1 0 .4 6 -.7 0
Closing____ 1 1 .0 3 -.0 5 1 0 .9 0 -.0 0 1 0 .9 0 -.9 1 1 0 .8 8 -.8 9 1 0 .7 3 -.7 6 10.51 —

A ugust —

R a n g e ____ 1 0 .6 3 -.6 5 1 0 .5 2 -.6 0 1 0 .4 7 -.5 8 1 0 .4 5 -.5 2 1 0 .4 5 -.5 3 1 0 .4 0 - .46
Closing____ 1 0 .6 5 -.6 6 1 0 .5 1 -.5 2 1 0 .4 8 -.4 9 1 0 .5 0 -.5 1 1 0 .4 5 -.4 6 1 0 .4 1 - .43

October—

R a n g e ____ 1 0 .2 3 -.3 0 1 0 .1 7 -.2 8 1 0 .1 5 -.2 4 1 0 .1 6 -.2 4 1 0 .1 5 -.2 5 1 0 .1 3 -.2 2
Closing____ 1 0 .2 7 -.2 9 1 0 .1 9 -.2 0 1 0 .1 6 -.1 7 1 0 .2 3 -.2 4 1 0 .1 6 -.1 7 1 0 .2 0 -.2 1

December —

Range ____ 1 0 .2 6 -.3 2 1 0 .1 9 -.3 1 1 0 .1 7 -.2 7 1 0 .1 8 -.2 6 1 0 .1 7 -.2 6 1 0 .1 6 -.2 4
Closing____ 1 0 .3 1 -.3 2 1 0 .2 1 -.2 2 1 0 .1 8 -.1 9 1 0 .2 5 -.2 6 1 0 .1 8 -.1 9 1 0 .2 3 -.2 4

J anu ary —

R a n g e ____
Closing____

T one —

S p o t _______
Options . . .

1 0 .3 5 -.3 7 1 0 .2 6 -.2 7 1 0 .2 6 -.3 4 1 0 .2 6 -.3 2 1 0 .2 4 — 1 0 .2 2 -.3 0
1 0 .3 7 -.3 9 1 0 .2 7 -.2 9 1 0 .2 5 -.2 7 1 0 .3 3 -.3 4 1 0 .2 5 -.2 6 1 0 .3 0 -.3 1
Quiet.
S tead y .

E asy.
S tead y .

Q uiet.
S te a d y .

Quiet.
S tead y .

S tead y .
S tead y.

E asv.
S tead y .

RECEIPTS FROM THE PLANTATIONS.—The follow­
ing table indicates the actual movement each week from the
plantations. The figures do not include overland receipts nor
Southern consumption; they are simply a statement of the
weekly movement from the plantations of that part of the
crop which finally reaches the market through the outports.
Week
end­
ing—
June
“
July
“
"
"

22
29
6
13
20
27

Receipts at the Ports.
1906.

1905.

31,573 68,274
30,637 72,894
25,068 62,152
27.440 81,598
25.601 104,182
30,538 97,193

1904.
13,995
17,374
10,483
9,903
14.770
14,343

Stock at Interior Towns. Receipts irom Plantains.
1906.
213,392
197,576
186,428
176,752
158.701
144,069

1905.

1904.

237.733 116,496
217,299 107,903
201,550 97,160
189,617 89.129
176,666 79,865
160,200 73,155

1906.

1905.

15,556
14,821
13,920
17,764
7,550
15,906

55,112
52,460
46,403
69,665
91,231
80,727

1904.
592
8,781
1,872
5,506
7,633

The above statement shows: 1.— That the total receipts
from the plantations since Sept. 1 1905 are 7,695,783 bales;
in 1904-05 were 9,873,554 bales; in 1903-04 were 7,167,033
bales.
2.—That although the receipts at the outports the past
week were 30,538 bales, the actual movement from planta­
tions was 15,906 bales, the balance being taken from stocks at
interior towns. Last year receipts from the plantations for the
week were 80,727 bales and for 1904 they were 7,633 bales.
WEATHER REPORTS BY TELEGRAPH.—Reports to
us by telegraph from the South this evening are, on the
whole, of a favorable tenor. Rain has been quite general,
and at a few points excessive, but in the main the precipi­
tation has been moderate or light. From Alabama and
some districts elsewhere we are advised of improvement in
the crop, but from a few sections there are complaints of
grass.
G a lveston , T e x a s . — Complaints of boll-weevil and shedding
still come n from various portions of the State. It has
rained on one day of the week, the rainfall being twenty-five
hundredths of an inch. The thermometer has averaged 84,
the highest being 94 and the lowest 73.
A b i le n e , T e x a s . —There has been rain on one day of the
past week, the rainfall reaching one hundredth of an inch.
The thermometer has averaged 83, ranging from 70 to 96.
B r e n h a m , T e x a s .— Dry all the week.
The thermometer
has ranged from 69 to 95, averaging 82.
C o rp u s C h r is ti, T e x a s . — Rain has fallen on one day of the
week to an inappreciable extent. Average thermometer 84,
highest 95 and lowest 72.
C u e ro , T e x a s . — We have had no rain during the week.
The thermometer has averaged 87, the highest being 101
and the lowest 73.
D a lla s , T e x a s . —We have had excessive rain on four days
of the week, the rainfall reaching two inches and twentythree hundredths. Thermometer has averaged 82, ranging
from 65 to 98.

[VOL. LXXXIII,

Fort Worth, Texas.—It has rained on two days of the week,,
the precipitation reaching eighty-nine hundredths of an inch.
The thermometer has ranged from 68 to 100, averaging 84.
Henrietta, Texas.— Rain has fallen on one day of the week,
the rainfall being forty hundredths of an inch. Average
thermometer 83, highest 101, lowest 65.
Huntsville, Texas.— We have had rain on one day during
the week, to the extent of forty-three hundredths of an inch.
The thermometer has averaged 81, the highest being 94
and the lowest 67.
-|
j
Kerrville, Texas.— We have had rain on two days during
the week to the extent of eleven hundredths of an inch.
The thermometer has averaged 84, ranging from 70 to 98.
Lampasas, Texas.— There has been rain on one day during
the week, the rainfall reaching two hundredths of an inch.
The thermometer has ranged from 66 to 100, averaging 83.
Longview, Texas.— Rain has fallen on one day of the week,
the rainfall being one inch and forty-three hundredths.
Average thermometer 85, highest 101, lowest 69.
Luting, Texas.— We have had rain on one day during the
week, the precipitation reaching two hundredths of an inch.
Thermometer averaged 86, the highest being 100 and the
lowest 72.
Nacogdoches, Texas.— We have had rain on three days
during the week, the rainfall reaching sixty hundredths of
an inch. The thermometer has averaged 79, ranging from
66 to 92.
Paris, Texans.—It has rained on one day of the week, the
rainfall being one inch and fifty hundredths. Average ther­
mometer 83, highest 99, lowest 66.
San Antonio, Texas.— Rain has fallen on two days of the
week to the extent of forty hundredths of an inch. The ther­
mometer has averaged 86, the highest being 98 and the low'est 72.
Weatherford, Texas.— Rain has fallen on two days of the
week, the rainfall being fifty-eight hundredths of an inch.
The thermometer has averaged 83, ranging from 67 to 99.
Shreveport, Louisiana.—It has rained on four days of the
week, the precipitation being one inch and forty-seven hun­
dredths. The thermometer has ranged from 66 to 94.
New Orleans, Louisiana.—It has rained on three days of
the week, the precipitation being sixty-one hundredths of an
inch. Average thermometer 83.
Leland, Mississippi.—There has been rain on one day the
past week, to the extent of twenty-six hundredths of an inch.
The thermometer has averaged 75.4, ranging from 60 to 87.
Vicksburg, Mississippi.—There has been rain on two days
of the week, the rainfall reaching one inch and seven hun­
dredths. Thermometer has ranged from 68 to 90, averag­
ing 79.
Helena, Arkansas.— Rain is claimed to have damaged cot­
ton. Nights are cool. It has rained heavily on one day of
the week, the rainfall being one inch and thirty-five hun­
dredths. The thermometer has averaged 78, the highest
being 90 and the lowest 62.
Little Rock, Arkansas.— Weather very favorable for cotton
the past week. There has been rain on two days of the week,
the rainfall being eighty-one hundredths of an inch. The
thermometer has averaged 77, ranging from 65 to 90.
Memphis, Tennessee.— Crop prospects good. Rain has
fallen on one day during the week, the rainfall reaching five
hundredths of an inch. The thermometer has ranged from
64.2 to 87.4, averaging /7.
Nashville, Tennessee.— Crop conditions continue favora­
ble. The week’s rainfall has been sixty-six hundredths of
an inch. Average thermometer 76, highest 91, lowest 60.
Mobile, Alabama.— Rain fell in the interior early in the
week, but since that time weather has been fair and favora­
ble. Crop reports generally are very good but maturity'
has been delayed by the recent wet weather. There has
been rain on five days of the week, the precipitation reach­
ing one inch and forty-eight hundredths. The thermometer
has averaged 81, the highest being 92 and the lowest 71.
Montgomery, Alabama.—Reports are more favorable,
although some cotton lands have been damaged by hard
rains. There has been rain on two days during the week,
the precipitation being sixty-one hundredths of an inch.
The thermometer has averaged 80, ranging from 66 to 91.
Selma, Alabama.— Rust is making its appearance and
shedding is complained of by farmers in some localities. We
have had rain on two days during the week, to the extent of
forty hundredths of an inch. The thermometer has ranged
from 70 to 98, averaging 83.
Madison, Florida.— Fields are grassy but the plant looks
healthy. Rainfall for the week three inches and fifty hun­
dredths, on six days. Average thermometer 77, highest
87, lowest 66.
Savannah, Georgia.—It has rained on four days during the
week, to the extent of one inch and sixteen hundredths.
The thermometer has averaged 80, ranging from 67 to 90.
Charleston, South Carolina.— We have had rain on five days
during the week, to the extent of two inches and ninety-three
hundredths. Average thermometer 80, highest 89, lowest
67Greenwood, South Carolina.—There has been rain on three
days during the week, the precipitation being two inches
and ten hundredths. The thermometer has averaged 77,
the highest being 86 and the lowest 68.

July 28 1906. j

THE CHRONICLE.

Stateburg, South Carolina .—There lias been too much rain
tojpermit the necessary cultivation of even the best drained
land. Rain has fallen on three days of the week, to the
extent of two inches and thirty-five hundredths. The
thermometer has averaged 7S, ranging from 05 to 90.
Charlotte, North Carolina .—Some complaints of grass. We
have had rain on two days during the week, the precipitation
reaching forty-four hundredths of an inch. The thermo­
meter has ranged from 00 to 88, averaging 77.
The following statement we have also received by tele­
graph, showing the height of rivers at the points named,
at S a. m. of the dates given:

221

According to the foregoing, Bombay appears to show a
decrease compared with last year in the week’s receipts of

15.000 bales. Exports from all India ports record a loss of
5.000 bales during the week and since Sept. 1 show an
increase of 53S.000 bales.
ALEXANDRIA RECEIPTS AND SHIPMENTS* OF
COTTON.—Through arrangements made with Messrs.
Choremi, Benachi & Co., of Liverpool and Alexandria, we
now receive a. weekly cable of the movements of cotton at
Alexandria, Egypt. The following are the receipts and
Ju ly 27 1906. July 2S 1905.
F e e t.
F eet.
shipments for the past week and for the corresponding week
New Orleans...........Above zero of gauge.
5.1
13.0
of the previous two years:
Memphis_________Above zero of gauge.
13.4
IS.6

Nashville_________Above zero of gauge.
Shreveport________Above zero of gauge.
Vicksburg_______ Above zero of gauge.

16.0
3.9
17.6

9.3
22.4
31.2

DOMESTIC EXPORTS OF COTTON MANUFACTURES
—We give below a statement showing the exports of domestic
cotton manufactures for May and for the eleven months ended
May 31 1906, and, for purposes of comparison, like figures
for the corresponding periods of the previous year are also
presented:

Alexandria, E gypt,
July 25.

Exports

United K in g d o m ---------------------------

473.421

261,318

2,829,491

18,144
127,297
792,818

538.676
1,699.947
9,038,026

95,287
1,631.690
7,850,724

Chile____________
—
- ------------C o lo m b i a ........................ .....................
V en ezu ela_________________________
Other South America..... ................
Chinese E m p ir e ---------------------------British East Indies------ --------------Hongkong . ........................ - ..............
Japan________________
___________
British Australasia________ ______
Philippine Isla n d s-----------------------Other Asia and Oceania____ ______
British A fr ic a _____________________
All other Africa....................................

2.53S.124
177,039
970,367
2,163,097
229.024
323.313
4S9.020
1.263.S28
577.960
445,155
30.702.112
51,232
37.357
29.1S7
1,179,588
758,918
3.113,627
570.159
11,304

2,006,037 25.904.932 24,425.658
375,968
2.555,231
3,043.334
2,086,387 19.465.602 15,286.554
2,126,514 28.876,329 22,696.401
448,825
2,366,288
3,193.587
876,569
7,821,864
8,791,918
1,597.562 13.144,167 11,941,186
433,376 11,812,648 14,702,563
489,672
5.977,856
7,082.977
890,917
6,302,989
7,172.505
51.456.621 475,021,781 421,464,440
703.200
8.228.777
0,579,973
338,158
54,498
4 78.S28
182.986
2,040,860 11,753,085
680,091
7.812,574
5,919,129
3.113,202 14,975,504
1.234,316
2,759.486 28.190.166 20,778,186
6,951,062
4,756.691
293.396
546,441
546,201
132,847

Total yards of above--------------------Total values of above......................

47.298,647
J3,040,640

70,028.845 670.577,067 618,118,935
$4,491,583 $40,398,952 $36,563,160

Value per yard-------------------------------

*.0643

$.0641

$.0602

S.0591

United K in g d o m --------------------------B e lg iu m ..-------------------------------------France____ _______________________
G erm an y__________________________
N etherlands---------------------------------Other E u ro p e _____________________
British North Am erca------------------Central American States , and
British Honduras
• ■ ■
Mexico _________________ ________
—
--------Cuba ........................ —
Other W est Indies and Bermuda.
A rg e n tin a-------------------------------------Brazil________________ ______________
Chile_______________________________
Colombia _________________________
V enezuela-------- ----------------------------Other South America_____________
Chinese E m p ir e __________________
British East Indies______________
H ongkong_____ . . _____________

248,719
8,241
2,255
67,770
9,386
6,917
251,046

59,792
7.861
2,375
50,776
6,988
10,698
220,858

1,480,409
225,482
57,788
815.828
70.182
109,642
J,498,661

1,000.115
66,815
15,632
558,807
34,484
78.152
2,145,556

635,988
501.520
415.422
214,815
189.298
£41,013
24,164
37,093
28,922
60,506
150.330
8,524
97,670
493,336
212,858
168.252
276,390
14,029
6,363

640,070
555,749
357,371
207.703
333,086
70,561
19,626
75,830
20,286
47,869
210,505
6,072
53.521
481,270
70,250
242,415
201,148
9,151
2 3.816

Philippine Islands ---------------------Other Asia and Oceania-------------British A fr ic a _____________________
All other A f r i c a __________________
Other countries-------------------------------

55,772
44,876
39.776
22,312
18.427
1,334
1,807
3,538
2,037
6.737
5,082
572
4,133
41,527
106,160
56,178
14,111
761
516

Total value!other m anufactures-Aggregate.^.alue.ot all cot. goods.

S I.019,990
$4,060,630

46,623
59,006
38,516
20.SO0
56.949
11,711
1,309
1.887
2,487
5.092
36,638
552
2,959
47,972
5.528
33,502
26.972
2,813
120

$760,744 $8,834,485 $7,505,859
$5,252,327 $49,233,437 $44,069,019

INDIA"COTTON MOVEMENT FROM ALL PORTS.—
The receipts of cotton at Bombay and the shipments from all
India ports for the week and for the season from Sept. 1 for
three years have been as follows:
July

26

1905-06.

1904-05.

1903-04.

*3.

Receiptszat —
W eek .

Bombay________

Exports from—

Bombay—
1905-06______
1904-05______
1903-04______
Calcutta—
1905-06......... .
1904-05______
1903-04______
Madras—
1905-06______
1904-05______
1903-04.........
All others—
1905-06______
1904-05______
1903-04.. ___
Total all—
1905-06.........
1904-05______
1903-04______

Since
Sept. 1.

W eek .

Since
Sept. 1.

W eek

Since
Sept. 1.

8,000 2,533,000 23,000 2,636,000 12,000 2,103.000
Since September 1.

For the Week.
Great Conti­
Britain. nent.

Total.

Great
Britain.

Conti­
nent.

Total.

1,000
—

860,000
417,000
859,000

917,000
438,000
953.000

2,000
2,200
1,000

2,000
2,000
1,000

7,000
3,000
4,000

113,000
41,000
40,000

120,000
44,000
50,000

1,000

2,000

. . . .

57,000
21,000
94,000

1,000

—

15,000 15,000
18,000 18,000
2,000 2,000

2,000

3,000
3,000
11,000

44,000
14,000
38,000

47,000
17,000
49,000

3,000
5,000
6.000

3,000
6,000
6,000

20,000
11,000
19,000

168,000
224,000
260,000

188 000
235.000
279,000

. . . .
21,000 21,000
1,000 25,000 26,000
11.000 11,000

87,000 1,185,000 1,272,000
38,000 696,000 734,000
128,000 1,203,000 1,331,000

600
5,875,620

4,500
6,229,994

6,460,062

This
Since
week. S ept. 1.

This
Since
w eek. S ept. 1.

3‘,666

200,439
174,006
1,250 326,033
69,377

3,750 225,315
152,499
3,2.50 328,844
900 74,635

2,000 233,689
2,250 137,426
4,500 351,241
400 52,667

Total exports

2,952.514

8,736
129,065
1,076,414

1903-04.

To Liverpool________
To Manchester______
To Continent . _____
To America_________

Q u a ntities o t M a n u fa ctu res ol M on th ending M a y 31. 11 m o s . ending M a y 31.
C olton (colored and uncolored)
1906.
1905.
1905-06.
1904-05.
E xp orted to—

G e rm an y__________________________
Other E u r o p e ------------ ------------------British North America-----------------Central American States and
British H o n d u r a s --------------------Mexico __________________ _______
- ...............---------Cuba________
Other W est Indies and Berm uda.
A rg e n tin a .
.. -------------

(bales)—
-

1904-05.

Since
This
week. S ept. 1 .

(cantars a)—
This week. ______
Since Sept. 1______

Receipts

1905-06.

4,250 769,855

7,900 781,293

9,150 775,023

a

--------

A cantar is 98 lbs.

This statement shows that the receipts for the week were
600 cantars and the foreign shipments 4,250 bales.
SEA ISLAND COTTON MOVEMENT.—We have re­
ceived this (Friday) evening by telegraph from the various
ports the details of the Sea Island cotton movement for the
week. The receipts for the week ending to-night (July 27)
and since Sept. 1 1905, the stocks to-night and the same
items for the corresponding periods of 1904-05, are as follows:
----- 1905-06.-------ThU
S in ce
R eceip ts to July 27—
w eek.
S ep t. 1.
S a v a n n a h .......... ......... ............
4
63,342
Charleston_________________
____
13.702
Florida. A c _____ __________
____
42,0 8 0
T o t a l ____________________

4

119,124

--------1 904-05.-------T h is
S in ce
w eek .
S ep t. 1.
3
54,033
____
12,189
79
32,7 7 6
82

----------Stock---------

98,9 9 8

1900.
1,411
11
____

1905.
3,283
122
566

1.422

3,971

The exports for the week ending this evening reach a total
of __ bales, of w h ich ___ bales were to Great Britain,
___ to France a n d ____ to Bremen, and the amount for­
warded to Northern mills has been 297 bales. Below are
the exports for the week and since Sept. 1 1905-06 and
1904-05:
W ee k e n d 'd J u ly 27
Great F r'n ce,
E x p o rts from —
B rit’ n & c. T ota l.
S avannah__________________ ________ __________
____
Charleston, &c_________________ ____
Florida, .fee........... ....................................................
New Y o rk ______________________ ____
____
Boston_________________ _______ - ............... ..
Philadelphia.......... ......................... ........ ........

S in ce S ep t. 1 1905.
N o rth em M iU t
Great F t ’nee,
S ince
B r it’in
& c.
T otal. W e e k . S ep t. 1.
13,066 6,176 19,242
297 39.181
____
____
____
____
5,063
692
____
692
------33.827
12,459 2 ,977 15,436
........
...........
4,527
_____
4,527
--------------100
------100
---------------

T o t a l............................. ............... ................... ..
Total 1904-05____________ 200 ____
200

30,844
29.9 5 8

9,153 39,9 9 7
7.485 37.443

297
252

78,071
59,224

A considerable portion of the Sea Island cotton shipped
to foreign ports goes via New York, and some small amounts
via Boston and Philadelphia. Instead of including this
cotton for the week in which it leaves the Southern outports,
we follow the same plan as in our regular table, of including
it when actually exported from New York, &c. The details
of the shipments of Sea Island cotton for the week will be
found under the head of "Shipping News” on a subsequent
page.
Quotations July 27 at Savannah—For Georgia, extra
fine, 18c.; choice, 19c.; fancy, 22c.
JUTE BUTTS, BAGGING, &c.—The market for jute
bagging has been dull and featureless during the week under
review, with prices unchanged at 8 % c. for lJHfilbs. and 9)^c.
for 2 lbs., standard grades. Jute butts dull at 3@4c. for
bagging quality.
—The Lord & Nagle Company, Boston, publishers of the
"Textile World Record,” have furnished us a copy of the
Official American Texitle Directory of the United States,
Canada and Mexico, for 1906, just issued. The work com­
prises 622 pages and a number of textile maps, showing the
location of cities and towns, railroad connections and popu­
lation. Full information is given in regard to the mills re­
ported—names of officers, machinery capacity, class of goods
made, whether they dye or not, kind of power used, who
the selling agents are, &c. The book is compiled from officinreturns from the mills, and should be a valuable book of
reference to those interested in textile matters. It is publ
lished in two editions; the Office Edition, bound in stiff
cloth covers, costs $3 00; Traveler’s Edition, of smallm size,
printed on thinner paper and bound in flexible covers, costs
$

2.

;>;K

JYo l . l x x x i i i .

T H E CHRONICLE

WORLD'S SUPPLY AND TAKINGS OF COTTON.The following brief but comprehensive statement indicates
at a glance the world's supply of cotton for the week and
since Sept. 1, for the last two seasons, from all sources from
which statistics are obtainable; also the takings, or amount
gone out of Sight, for the like periods.
1904-05.

1905-06.
Cotton Takings
W eek and Season.

S ea son .

W eek .

S ea son .

W eek .

3,132,763
Visible supply July 2 0 _____ . 2,548,642
1,123,887
2,545 ,4 7 0
Visible supply Sept. 1 _ _ _ ____
133,489 13,148,997
” 67 ,949 10,746,258
American in sight to July 27_.
23,000 2,636 ,0 0 0
8,000 2,533,000
Bom bay receipts to July 2 6 -296.000
8,000
355.000
6,000
Other India ship'ts to July 26 _
830.600
600
783,400
100
Alexandria receipts to July 25
178.000
6,000
479.000
9,000
Other supply to July 2 5 - Total supply.

_ _

2,639,691 17,442,128 3 ,303,852 18,213,484

- —

D ed u ct —*
Visible supply July 2 7 ________ 2,380,631

Total takings to July 2 7 _____
Of whi eh A rnerican ___ _
Of which other „ ______
__

2,380,631 2,991,351

2,991,351

312,501 15,222,133
194,901 11,744,533
117,600 3,477 ,6 0 0

259,060 15,061,497
175,960 1 1 ,110,097
. 83,100 3 ,951,400

a Embraces receipts in Europe from Brazil, Smyrna, W est Indies, &c.

EXPORTS OF COTTON GOODS FROM GREAT
B R ITA IN .— Below we give the exports of cotton yarn,
goods, &c., from Great Britain for the month of June and
since Oct. 1 in 1905-06 and 1904-05, as compiled by us from
the British Board of Trade returns. It will be noticed that
we have reduced the movement all to pounds.
Y a r n & Thread.

1905-06 1904-05 1905-06

om itted.

L bs.

October___ 22,151
November __ 19,805
December __ 20,859
1st quar_ _ 62,815
January __ 20,826
February __ 19,612
March_____ 21,434
2d quar __ 61,872
Total 6 mos_ 124,687
April------ _ 19,203
May _ _ _ _ _ 20,211
June-----16,830
3d quar__ 56,244
9 months__ 180,931

L bs.

T ota l o f A ll.

Cloth.

Y ds.

1904-05 1905-06 1904-05 1905-06 1904-05
Y d s.

L bs.

T otal__________________________ __________ _______ ___________________ 23,557

The particulars of the foregoing shipments for the week,
arranged in our usual form, are as follows:
G reat F re n c h G e r - - —O th. E u r o p e — M e x . ,
B r it a in . p o r ts. m a n y .
N o r th . S o u th .
Acc. J a p a n .

New Y o r k ___ 1,286
New Orleans.
788
G a lv e sto n ___
B o s t o n _____
B a ltim o re ___ 1,463
Philadelphia _ - i. - i.
San Francisco
S e a t t l e ___ _

150
1,755

504
180
8,056

___
___

T o t a l ____ _ 3,537

1,905

654
1,468

500
353

725
5,477

___
H
I__

__
__

6,202

9,593

2,122

35

T o ta l.

-§gj

___

__

• ■- - - - -

L b s.

L bs.

L b s.

T otal b a les.

N E W Y O R K — To Liverpool— Julv 23— Georgic, 2 2 4 ____ July 26
586
Cedric, 3 6 2 _____________________________________ _ _______________
To Hull— July 24— Idaho, 7 0 0 __________________________________
700
To Marseilles— July 21— Massilia, 5 0 ____ July 24— R om a, 100
150
To Bremen— July 23— Bremen, 4 0 4 ...................................................
404
To Hamburg-— July 20— B atavia, 1 0 0 ___________________________
100
654
To Antwerp— July 23— Samiand, 6 5 4 . _________________________
To Genoa— July 20— Citta di Torino, 9 0 ____ July 23—
Moltke, 416 1_________________________ ______ ______________ _____
506
56
To Naples— July 23— Moltke, 5 6 ............. ..................... .............. .........
To Trieste— July 24— Georgia, 163 _________________ __________ _
163
To Yarm outh— July 21— Prince Arthur, 3 5 ------------------------------35
N E W O R L E A N S — To London— July 23— Kingstonian, 7 8 8 _____
788
180
To Ham burg— July 27— Red Cross, 180------------------------------------To Antwerp— July 23— Kingstonian, 1 ,4 6 8 ____________________ 1,468
To Havre— July 25— Ville de Rouen, 1 ,7 5 5 ____________________ 1,755
To Barcelona— July 20— Miguel Gallart, 1 ,4 5 2 ____ July 26—
Martin Saenz, 3 ,0 2 5 ____________________________________________ 4,477
To Malaga— July 26— Martin Saenz, 1 ,0 0 0 . _________________ 1,000
G A L V E S T O N — To Bremen— July 23— Hannover, 8 ,0 5 6 _________ 8,056
B O S T O N — To S t. Johns— July 23— Calvin Austin, 9 5 _____________
95
B A L T IM O R E — To Liverpool— July 24— Vedamore, 1 ,4 6 3 _______ 1,463
To Bremen— July 25— Brandenburg, 4 0 0 ________ ________ _____
400
100
To Bremen— July 21— Baderiia, 100____________________________
P H I L A D E L P H I A — To H am burg— July 6— Pallanza, 3 5 3 ________
353
SA N F R A N C IS C O — To Japan— July 20— Mongolia, 2 1 ___________
21
47
S E A T T L E — To Japan— July 25— Tangso Maru, 4 7 ________________

IE
21
47

3,354
9,668
8,056
95
1,963
353
21
47

130

68

23,557

_ __

95

__

The exports to Japan since Sept. 1 have been 110,507 bales
486,579 95,131 90,767 117,282 107,525
474,192 98,940 88,456 118,745 106,394 from Pacific ports and 15,897 bales from New York.
560,718 103,613 104,597 124,472 123,758
Cotton freights at New York the past week have been as
1,521,489 297,684 283,820 360,499 337,677
477,955 106,700 89,203 127,526 106,355 f o llo w s :
512,989 92,055 95,739 111,667 112,890
S a t.
M on.
T u es.
W ed.
T h u r s.
F ri.
539,796 107,032 100,742 128,466 121,221 Liverpool ,pmpt .c
13
13
13
13
13
13

16,758 509,733
17,938 530,139
19,161 555,181
53,857 1,595,053
17,152 571,913
17,151 493,412
20,479 573,694
54,782 1,639,019 1,530,740 305,787 285,684
108,639 3,234,072 3,052,229 603,471 569,504
17,447 456,940 470,098 85,250 87,734
19,963 574,405 501,367 107,165 93,570
17,110 446,340 503,267 83,272 93,925
54,520 1,477,685 1,474,732 275,687 275,229
163,159 4.711,757 4,526,961 879,158 844,733

367,659 340,466
728,158 678,143
104,453 105,181
127,376 113,533
100,102 111,035
331,931 329,749
1060089 1007892

627
Stockings and socks___ _______ __ - __ _ __ __ _ ____
653
Sundry articles _______ ___________________ _______________ 32,947 28,849
Total exports of cotton manufactures________________ ____ 1093689 103736

M anchester____ c.
H avre, n et_____ c.
Bremen
____ c.
Ham burg, ask__c.
Antwerp
__c.
Ghent, v . A n t__c.
Reval, indirect _c.
R eval, v . Canal.c.
Barcelona, Aug.c.
G e n o a _________ c.
T r i e s t e ------------- c.
Japan___________ c.

15
18
18
20
15
21
27

15
18
18
20
15
21
27
22
18
32
55

15
18
18
22
15
21
27

22
18
32
55
Quotations

15
18
18
22
15
21
27

15
18
18
22
15
21
27

22
22
18
18
30
30
55
55
are cents per 100

15
IS @ 2 0
IS
22
15
21
27

22
18
30
55
lbs.

20
18
30
55

LIVERPOOL.— By cable from Liverpool we have the
following statement of the week's sales, stocks, &c., at
The foregoing shows that there has been exported from that port:
the United Kingdom during the nine months 1,093,689,000
J u l y 6.
J u l y 13.
J u l y 20.
J u l y 27.
lbs. of manufactured cotton, against 1,037,368,000 lbs. last Sales of the week___ bales. 38,000
33,000
36,000
29.000
2,000
2,000
Of which exporters t o o k -.
2 000
1,000
year, or an increase of 56,321,000 lbs.
Of
2,000
M M xi
1,000
A further matter of interest is the destination of these Sales which speculators took 32,000 - 27,000
American
_
29,000
23.000
exports, and we have therefore prepared the following state­ Actual export. _ _ _
5,000
7,000
7.000
5,000
82,000
60,000
67,000
52,000
ments, showing the amounts taken by the principal countries Forwarded _ E stim ated____ 704,000
Total stock—
658.000
612,000
593,000
during June and since Oct. 1 in each of the last three years.
Of which American— Est_ 599,000
548,000
501,000
480,000
J u n e.

P ie c e Goods — Y a rd s.
(0005 om itted.)

Oct.

1 to

June

Total import of the week___
Of which American __
Amount afloat
Of which Am erican.

30.

1906. 1905. 1904. 1905-06.
East Indies__ _____ __ 175,984 211,146 192,424 2,060,223
Turkey, Egypt and Africa. _ 75,187 69,682 58,055 713,216
China and Japan____ ___ 61,300 77,287 25,683 661,726
Europe (except Turkey)__ 18,230 19,171 18,433 239,575
South America__________ 53,531 60,576 57,704 435,364
North America____ _____ 18,146 23,498 18,543 252,991
All other countries............ 43,962 41,907 38,060 348,662
Total yards______ ___ 446,340 503,267 408,902 4,711,757
Total value______ ___ £5,466 £5,734 £4,757 £54,940
Y a r n s — L bs.

^ (0005 om itted.)
Holland _
__________ 2,824 2,699 2,297
Germany________ ____
2,742 2,800 2,961
Other Eur’e (except Turkey 2,045 2,120 1,626
East Indies
_________
2,832 3,179 1,992
China and Japan. ______
42
1,092
954
Turkey and Egypt,
__
1,418 1,653 1,103
All other countries ____ _
1,948 1,898 1,436
Total pounds. ______ _ 14,901 15.303 11.457
Total value __ ________
£852
£758 £673

45,000
39,000
70,000
40,000

21,000
8,000
79,000
54,000

28,000
11,000
67,000
50,000

3 8 ,000
29,000
38,000
23,000

1904-05. 1903-04.
1,984,093 1,707,355
The tone of the Liverpool market for spots and futures
725,237 577,356
669,580 357,352 each day of the past week and the daily closing prices of
208,825 214,303 spot cotton have been as follows:
395,357 423,013
243,967 235,443
299,882 276,158
S a tu rda y.
M onday.
W ed 'd a y.
S p ot.
T u esd a y.
T h u rsd ay.
F r id a y .
4,526,941 3,790,980 Market 1
Dull.
Quiet.
Quiet.
Quiet.
Quiet.
£51,708 £42,738
12:15 \ Quiet.
P. M. J
Mid.Upl’ds
6.06
6.03
6.03
6.01
6.06
6.03
30,483
22,419
27,703
4,000
30,051 Sales-----4,000
6,000
5,000
5,000
3,793
30,247
5,000
23,610
20,327
16,755 Spec.&exp.
400
1-.000
500
500
500
500
33,172
26,816
19,318
Barely St’y , unch. Quiet at Steady at Steady at
10,358
6,349
1,797
F u tu res.
to 1 pt. 2 points 2@3 pts. 1@2 pts.
steady,
15,041
16,284
10,910 Market 1 Quiet,
unch.
decline.
decline.
advance.
17,582
decline.
18,536
14,630 opened \ unch.
Quiet at
Quiet, Firm, unch. Quiet at
Steady.
161,993 145,308 115,880 Market ] Dull at
£8,669 £7,329 £6,416
4
1 2@3 pts. 2(5)4 pts. unch. to to 2 pts. 1 pt. dec. unch. to
decline. 2 pts. adv. decline. tolpt.adv. 2 pts. ady.
P. M. / decline.

MANCHESTER M AR K E T.— Our report received by
The prices of futures at Liverpool for each day are given
cable to-night from Manchester states that the market
below. Prices are on the basis of Uplands, Good Ordinary
is steady for yarns and quiet for shirtings.
Merchants
are buying very sparingly. We give the prices for to-day clause, unless otherwise stated.
T h e 'prices are g iv e n i n p en ce a n d 100 t h s .
T h u s: 5 80 m e a n s 5 80-1 OOd.
below and leave those for previous weeks of this and
last year for comparison:
Sat

1906.
32s C op .
T w ist.

June
22
'9
July
6
13
20
7

d.
9%

■

9M
9K
9 5-16
9%
9H

©
©
©
©
©
©

1905.

8 H lbs. S h irt­
in gs, com m on
to fin est.

d.
d.
s.
10H ) 8 © 9
10H 3 8 @9
10H 6 8 © 9
1014 6 8 © 9
10% 6 8 @-9
1 0 % 6 8 @9

d.
9
9
9
9
9
9

yot'n
Mid
JpVs

d. i.
6.12
6.10 m
6.08 m
6.12 9
6.07 9
6.03 8 Vs

S H lbs. S h irt­
in g s, com m on
to fin est.

32s C op .
T w ist.
©
©
©
©
©
©

d. u
1
3
6
m
9 Vs 6
9V 6
9Vs 6

8%
m

d.
s. d.
0 @8 10
m © 9
0
3 ©9 3
4 © 9 4V
4 ©9 4 l
A
4 @9 4K

M id
J p i’ s

SHIPPING NEWS.— As shown on a previous page, the
exports of cotton from the United States the past week have
reached 23,557 bales. The shipments in detail, as made up
f r om mail and telegraphic returns, are as follows:

Tues.

W ed .

Thurs.

Fri.

J u l y 23.

J u l y 24.

J u ly 2 5 .

J u l y 26.

J u l y 27.

4
4
4
4
4
L2M 12 H 1234
12M
12M
12K
V 2H
p.m. p .m . p.m. p.m. p.m*. p.m. p.m . p.m. p.m. p.m. p.m. p.m .

7ol'n
d.
5.05
5.34
6.01
5.82
5.91
6.01

Mon.

J u l y 21.

d.

J u l y ------Julv-Aug_
Aug .-Sep _
Sep .-Oct _
Oct -N ov_
N o v.-D ee.
D ec.-Jan _
Jan .-F eb _
Feb.-M ch.
M ch.-A pr.
Apr -M ay.
M ay-J une

___
___

___
___
—

d.

5
5
5
5
5
5
5
5
5
5
5
5

80
77
69
63
59
59
59
60
62
63
64
65

d.

5
5
5
5
5
5
5
5
5
5
5
5

77
75
67
61
57
57
57
58
60
61
62
63

d.

5
5
5
5
5
5
5
5
5
5
5
5

76
73
66
61
57
56
56
57
59
61
62
63

d.

5
5
5
5
5
5
5
5
5
5
5
5

77
74
66
61
57
57
57
58
59
61
62
63

d.

5
5
5
5
5
5
5
5
5
5
5
5

77
75
67
61
57
57
57
58
59
61
62
63

d.
d.
d.
d.
d.
d.
5 75 5 77 5 80 5 78 5 77 5 79

5
5
5
5
5
5
5
5
5
5
5

73
65
59
56
55
55
56
58
59
60
61

5
5
5
5
5
5
5
5
5
5
5

74
66
60
56
55
55
56
58
60
61
62

5 77
b 69
5 63
5 58
5 58
5 58
5 59
5 60
5 62
5 63
5 64

5
5
5
5
5
5
5
5
5
5
5

74
66
59
55
55
55
56
57
59
60
61

5
5
5
5
5
5
5
5
5
5
5

74
64
58
54
53
53
54
56
58
59
60

5
5
5
5
5
5
5
5
5
5
5

76
66
60
56
55
55
56
57
59
60
61

J u ly 28 1906.]

D A IL Y C LO SIN G P R IC E S OF N O . 2 M I X E D O A TS IN C H IC A G O .

BREADSTUFFS.
F r id a y

,

27 1906.

J u ly

Prices for wheat flour have shown heaviness at times, the
depression being especially noticeable in winter patents, for
which there has been no demand. The decline is attributable
partly, however, to weakness in the wheat market. A
better demand has been reported for spring patents, mainly
from jobbers who are getting out of stock. , In some other
grades, too, more activity has been noticeable of late.
Europe has been taking low-grade winter flour rather freely
direct from the mills in the Southwest, but foreign business
in the local market continues dull. At the milling centres
of the Northwest trade has been stagnant, though some small
lots of spring patents have been worked for export, chiefly
to Scotch markets. The decline in wheat, however, has
caused domestic buyers there to hold aloof from the market
Rye flour has been quiet and steady. Corn meal has been
dull and easier.
Wheat has on the whole declined, owing to favorable
weather and large receipts. There have been rallies from
time to time, it is true, due to reports of black rust at the
Northwest, fears of a revolution in Russia, where, moreover
the crop is said to have been damaged, and, finally, a pretty
good export demand and considerable covering of shorts.
But the reports of rust have been contradicted, the situa­
tion in Russia has of late apparently improved and little
attention has been paid to some rumors of injury to the crop
in Argentina. Beneficial rains have occurred in India.
The movement of the crop in this country has been very
large and speculation has not been brisk. Some large inter­
ests in Chicago are, as usual at this time of the year, identi­
fied with the bear side. To-day there was an advance,
owing to higher foreign markets, rains in Russia, reports of
drought in Argentina and covering of shorts. Besides a
in railroad grain rates from Missouri River points to the
seaboard suggests the possibility of a better export trade
in the near future. Prices are lower for the week, however,
owing to the fact that in the main the crop outlook is re­
garded as very promising. May closed at 883^c.
D A I L Y C LO SIN G P R IC E S OF W H E A T F U T U R E S IN N E W Y O R K .
S a t.

N o . 2 red winter____________________ S 3%
July delivery in elevator-----------------8 3 %
September delivery in elevator____ 8 3 %
December delivery in elevator____ 8 5 %
D A IL Y

•2
3

*
>

TH E CHRONICLE

M on.

T u es.

82%
82%
82%
85%

83%
83%
83%
85%

W e d .T h u r s .

83
83%
83%
85%

F r i.

82%
83
83
85%

82%
82%
82%
85%

C LO SIN G P R IC E S OF W H E A T F U T U R E S IN C H ICA G O .
S a l.

July delivery in elevator___________7 6 %
September delivery in elevator____ 7 6 %
December delivery in elevator_____ 7 8 %

M on.

T u es.

75% 75%
76% 76%
78% 79%

W ed . T h u rs.

75%
76%
79

F r i.

75%
76%
79%

75%
76%
79%

S a t. M o n . T u es.
July delivery in elevator.............
34%
33 1> 3 3 %
September delivery in elevator.
32%
33%
December delivery in elevator- - - 3 3 %
34%
33%

W e d . T h u rs.

35%
33%
34%

34%
33%
34

F ri.

34%
32%
33%

The following are closing quotations:
FLOUR.
20(a)S3 40 Kansas straights
50(a) 2 SO Kansas clears___
50(a) 3 85 Blended patents.
70(a) 3 85 Rye flour____
10(a) 4 35 Buckwheat flour
0 0 (a 4 25 Graham flour___
7 5 @ 4 00 C o r n m e a l_____ _

S3
2
3
3
4
4
. 3

Low grades------Second clears - .
C le a r s ..................
Straights..............
Patent, spring.
Patent, winter.
Kansas patents

- - S3 7 0(a) $3 90
- - 3 25 @ 3 60
1 8 0 © 5 30
3 40(a) 4 15
N om inal.
3 00(a) 3 25
2 75(a) 2 80

G R A IN .
Corn, per bush.—
W h eat, per bush.—
f.o .b . S 0%
N o. 2 m ix ed ____
N . D u l., N o. 1 _ .
f.o .b . 8 5 %
N o. 2 y e llo w ___
N . D u l., N o. 2 . .
f.o .b . 8 2 %
N o. 2 w h it e ____
Red winter, N o. 2
f.o .b . 8 4 % R y e, per bush.—
Hard “
N o. 2 W estern ___
Oats— Mixed, bush.—
N o. 2 white___________ Nom inal.
State and Jersey.
N o. 2 m ix e d _________ Nom inal.
Barley— Western __
F ee d in g ____________
No. 2 white, clipped .N om in a l.

c.
f.o .b . 58
f.o .b . 60
f.o .b . 61
63
Nominal.
Nominal.
Nom inal.

GOVERNMENT W E E K L Y W EATHER REPORT.—
Mr. James Berry, Chief of the Climate and Crop Division of
the United States Weather Bureau, made public on Tuesday
the telegraphic reports on the weather in the various States
for the week ending July 23, summarizing them as follows:
Except in the central Missouri V alley, where the nights were rathecool, the temperature conditions in the districts east of the Rocky Mounr
tains during the week ending July 23 were very favorable, being some­
what above the normal in the more northerly districts, and below the
normal in the central and west Gulf States and the Missouri Valley,
Northeastern Missouri and portions of Iow a, Illinois, Indiana and the
Dakotas need rain, drought being quite severe in northeastern Missouri
and the central western counties of Illinois; but elsewhere in the principal
agricultural States there was ample moisture, heavy rains having occurred
f om the central and west Gulf coasts northeastward to the lower Lake
region, in the middle and south Atlantic States, and in southwestern
Missouri and central K ansas. There was much cloudiness in the Atlantic
Coast and Gulf districts, the reports indicating general need of sunshine
in the Gulf States. Damaging local storms attended the heavy rainfall
in the South Atlantic and East Gulf States, and hailstorms caused con­
siderable damage in K ansas. The general weather conditions on the
Pacific Coast were favorable, athough very high temperatures occurred
in central and northern California, western Idaho and the eastern portions
of Oregon and W ashington.
,

-

-

---

-

The statements of the movement of breadstuffs to market
as indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since Aug. 1, for each of the last three years, have been:
R eceip ts at —

F lo u r .

W h ea t.

C orn .

60 lbs. bush. 56 lbs.
2,405,763 1,773,181
69,520
118,200
5,385
252,3S6
987,050
81,840
35,200
41,000
120,001
31,179
224,491
51,360
959,662
384,985
162,800
118,800
137,000
1,958,000
7,130,873 2,786,930
5,280,231 2,930,900
2,769,247 2,128,846

\bbls.l9Glbs. bush.

Chicago___
Milwaukee. _
Duluth____
Minneapolis.
Toledo____
Detroit___
Cleveland—
St. Louis__
Peoria __
Kansas City.

131,605
34,825
139,200

Tot.wk/06
Same wk. ’05

379,997
320,621

6,200
1,212
40.105
26,850

O ats.

B a r le y .

R ye.

32 lbs. bushA&lbs. bu. 56 lbs.
18,500
1,188,980
80,300
123,200
124,300
5,600
1,653
333,487
137,311
11.660
349,070
76,530
6,000
58,900
39,175
65,518
3,000
590,580
7,200
244,000
15,000
—
—
74,400
433,441
53,613
3,067,310
17,956
418,904
2,606,357
51,119
270,656
2,103,111

bush.

Indian corn futures have advanced, owing to light receipts Same wk. '04 315,658
at the West, small stocks of contract grade, light country ac­ Since Aug. 1
1905-06... 19,988,050 227,168,284 190,704,569 221,221,324 75,653.885 7,628,723
ceptances, covering of shorts and buying by leading Chicago
1904-05.__ 16,712,603 206,361,728 188,501,180 161,615,017 65,347,408 6,583,843
operators. Beneficial rains have fallen of late and crop re­
1903-04. 18,919,396 215,666,149 168,704,468 156,883,591 65,111.256 7,655.361
ports are, in the main, of a favorable character, though more
moisture is needed in important sections. The small move­
Total receipts of flour and grain at the seaboard ports for
ment of the crop, however, and the light stocks of contract the week ended July 21 1906 follow:
grade, together with the fact that shippers at Chicago are
B a r le y ,
R ye.
C orn ,
Oats,
F lo u r ,
W h ea l,
absorbing the daily arrivals there, have made bears nervous
bush.
bush.
R eceip ts at—
bush.
bbls.
bush.
bush.
54,000
975
New Y
’ork______
326,575
552,800
84,215
128,500
and there has been active covering at times. To-day prices
Boston------------725
56,155
18,843
1,565
135,894
declined here, owing to favorable weather and crop reports, Portland.
64,000
214
13,600
81,998
Philadelphia____
235,960
39,141
large Argentina shipments and liquidation.
1,294
48,222
Baltimore______
425,346
32,878
111.371
D A IL Y C LO SIN G P R IC E S OF N O . 2 M I X E D C O R N IN N E W Y O R K .
S a t.

M on.

Cash corn---------------------56%
July delivery in elevator__________5 5 %
September delivery in e le v a t o r ...5 6 %
December delivery in e le v a to r .. _ . 5 4 %
D A IL Y

C L O SIN G

P R IC E S

OF

57%
56%
57%
55%

CORN
S a t.

July.delivery in elevator----------------4 9 %
September d-livery in ele v a to r.. .4 9 %
December delivery in elevator_____ 4 7 %

T u es.

58%
57
57%
56%

W ed .

FUTURES

M o n . T u es.

50% 51%
5 0 % 51
47% 48%

IN

F r i.

58%
57%
57%
56

58%
57%
58%
56%

T h u rs.

57
56%
57%
55%

C H ICA G O .

W e d .T h u r s .

F r i.

51%
51%
49

51%
51%
48%

50%
50%
48%

Richmond _____
46,932
27,594
1,800
27,150
Newport News___ 20,821
New Orleans.a__
58,000
21,400
43,500
9,729
Galveston____
9,800
235,000
Montreal________ 19,892
206,798 59,444
76,214
342,092
—
750
22,335
Mobile................
1,046
2,994
651,892 1,032,317 113.444
Total w eek.__ 228,579 1,615,342
1,435
940,447 25.513
Week 1905........... 195,720
803.399 1,318.099
a Receipts do not include grain passing through New Orleans for foreign ports
on through bills of lading.

Total receipts at ports from Jan. 1 to July 21 compare
as follows for four years:

Oats for future delivery in the Western market have ad­
1903.
1904.
R eceip ts o1—
1906.
1905.
11,683,630
10,293.646
vanced of late, owing to buying by commission houses, cov­ Flour.........................bbls- 8,790.967
ering of shorts and light receipts and offerings. Crop pros­ Wheat....... ................ bush- 40,604,827
13,326,643 24,455,607 54,796.250
pects have improved in some sections, but threshing returns Corn____________________ 69,653,063 63,850,456 33,409.612 67,249.102
Oats____________________ 44,153,526 25,933.990 23,661.804 30,207,750
2,234.060
1,872,606
4.177,990
have been unfavorable and the indications continue to point Barley ............................... 7,421,536
2,958,898
516,975
199,950
835,946
to a yield considerably smaller than that of last year. Not Itye................
83.916,604 157,446,660
Total grain...................... 162,668,898 107,489.029
only have the arrivals been light but the grading has been
poor. The cash market has been firm, with a fair demand,
The exports from the several seaboard ports for the week
and it is expected that considerable export business will be ending July 21 1906 are shown in the annexed statetment:
ice at
worked in the near future. Reactions have taken
P ea s.
Oats,
R ye. B a r ley,
C o r n , F lo u r .
ark et
in ed ,
>port.

May closed at 35%c.
D A IL Y C LO SIN G P R IC E S OF O A T S IN
S a l.

Mixed, 26 to 32
lbs ...................... 4 1 %
tV hite clipped, 36
to 3 8 .lbs-----------43-44

M an.

T u es.

Wed.

NEW YORK.
T h u rs

F r i.

39%

39%

39%

39%

39%

41 % -4 3

4 1 % -4 3

4 1 % -4 3

41-43

41-43

W heat,

E x p o r ts Jrom—
bush.
Vow York....... . 31.733
Portland........... 6 1000
188.405
Best n .
Philadelphia
66.000
Baltimore.......... 32,000
Newport News.
New Orleans ...
<hi]voston _
Montreal............ 331,7 i"
Mobile...............

bush .

335,270
42,262
43,257
16,044
17.755
213.758
22,335
Total week . - 703.848 090.687
Sarne.time 1905.. 369.849 1,000.523

bbls.

47,112
214
10.624
26,983
6,427
20,821
1,904
16,802
27.349
1.046
159,282
104,369

bush.

0.605

bush.

18.998

bush.

bush.

2.392
1,395

“ "400
7o
3 1
4.590
5,966
1 6 .60s
37,862 . . —
750
66.660 18.998 16.508 10,762
30.917 9,742
—

The destination of these exports for the week and since
July 1 1906 is as below:
----------FIlour---------- ------------Wi heat------------ --------------C orn-----------Since
Since
Since
Week
July 1
July 1
Week
July 1
Week
1906.
1906. July 21.
Exvorls Jorwcck and July 21
1906. July 21.
bush.
bush.
bush.
Inish.
since July 1 to—
bbls.
bbls.
664,841
298,758
577,016 1,598,215
204,459
United Kingdom___ 95,441
126,832
405,739
331,374 1,457,831
Continent _ ...... 23.71 1
89,278
21.732
20.199
28,929
So. & Cent. America 8.451
141,955
40,237
78,327
23,092
119
119
1,809
Brit. No. Am. Cols. 1,402
8,035
Other countries____
7.987
Total____________ 159,282
Total 1905.................. 104,359

470,837
251,717

703,848
369,849

2,003,954
690,687
775,597 1,000,523

2,287,940
2,609,499

The visible supply of grain, comprising the stocks in
granary at the principal points of accumulation at lake and
seaboard ports July 21 1906, was as follows:
New York . . . ---------- .
"
afloat______
Baltimore _ _______

.

Montreal __ _______

.

Wheat,
bush.
321,000

Corn,
bush.
550,000

Oats,
bush.
296,000

R ye,
bush.
1,000

435~000
80,000
430,000
36,000
408,000
337,000

59,000
497.000
75,000
7,000
120.000

197.000
89,000
179.000
132.000

Milwaukee. _________
M
afloat _ _

91,000

_ 1,058,000
534,000
Duluth .......................... . 3,050,000
“
afloat______
Minneapolis__________ .To,7137666
St. Louis.. __________ . 1,983,000
“
afloat______
1 , 7 7 1 ,6 6 6
93,000
323,000
On Mississippi River. _
On Lakes_____
:
606^000
On Canal and R iver.. .
111,000
July
July
July
July
July

21
14
22
23
25

Barley,
bush.
60,000

33,000

_
453,000
Buffalo __
"
afloat______
28T\000
Toledo______ . . . _.
"
afloat______
I
2iY,666
afloat______
_ 2,584~666

Total
Total
Total
Total
Total

[You.

THE CHRONICLE.

224

1906. .25,915,000
1906. .24,247,000
1905. .11,875,000W
1904. .12,175,000
1903. .12,950,000

385,000

181,000
34,000
693,000

99,000

135,000

1,000

1,000

433,000

90,000

16,000

1,000

40,000

25,000
1,453,000

728,000

580,000

265,000

243,000

61,000

39,000

33,000

789,000

89,000

435,000

8,000
65.000

818,000
45,000

119,000
10,000

371,000
11,000

126,000
2,000
202,000

11,000
84.000
25.000

8,000

1,401,000
495,000

364.000
308.000

5,867,000
5,161,000
5,491,000
5,778.000
7,311.000

5,351,000
6.108,000
5,530.000
3,007,000
5,229,000

41.000
10.000
1,391.000
1,417.000
767.000
792.000
634.000

1,059.000
893.000
740.000
955.000
365,000

THE DRY GOODS TRADE.

l x x x iii.

and growing demand from the Philippines for American
prints and other lines of cheap colored cotton fabrics. The
new tariff regulations which have been put into operation
there are proving very beneficial to American merchants,
and, judging from the manner in which orders have come
forward since these regulations took effect, the American
manufacturer of cheap colored cotton fabrics has found an
excellent market for his goods.
W O O L E N G O O D S .— During the week in the m en’s wear
market there have been numerous openings in fine fancy
worsteds. These goods have been placed on the market at
substantial advances, and it is this fact that has kept the
clothiers and cloth jobbers from placing free initial orders.
Another feature within the past few days has been the turn­
ing of buyers toward fancy woolens as the best proposition
for the spring of 1907. There has been a steady improve­
ment in mercerized worsteds for the new season, and it is
now regarded as certain that clothiers making medium and
low-grade suits for men and boys will make their chief effort
to interest the trade in mercerized goods. This will be a
means of their keeping their completed product down to
last year’s ranges.
For m en’s fall wear agents state they
are not receiving as many late re-orders as they had reason
to expect.
The reason for this is that clothiers are still un­
decided in the matter of taking their final supplies of suitings
for the late fall and winter business. Their present tendency
is toward fancy worsteds in the high grades and fancy woolens
and mercerized cloths in the medium grades. Overcoatings
are selling slowly on duplicates for fall, and plain staples are
in chief demand.
F O R E IG N D R Y G O O D S .— The high prices at which
domestic woolen and worsted dress goods have been opened
for the new season have provided opportunity for the foreign
manufacturer and importer to place lines on the American
market at an advantage which has not occurred in many
seasons; in other words, foreign goods are now more on a
price level with the domestic fabrics, and as they are usually
of better wearing quality, the importer has found it easier
to put through business and has secured a larger volume of
orders than for the corresponding period last year. The
market for silk-piece goods and ribbons for fall is in a very
unsatisfactory condition, and seems likely to remain so for
the present at least. Linens are as strong as ever, with in
some instances further advances reported on special lines.
Burlaps, contrary to expectations, are stronger since the
issuance of the Indian Government’s jute forecast, with
slight advances and an active demand reported on all light­
weight goods.

N e w Y o r k , F r i d a y N i g h t , J u l y 27 1906.
** Staple cottons have been in more active demand during
the past week, with the heaviest buying coming to hand
from the more distant points throughout the country.
Buyers in the far-away sections have sent forward orders for
a fairly liberal share of their fall needs, and have paid full Importations and Warehouse Withdrawals of Dry Goods.
asking prices prevailing in the market without much haggling.
The importations and warehouse withdrawals of dry goods
Before the fall season has progressed very far, it is believed at this port for the week ending July 26 1906 and since
b y conservative members of the trade that sheetings and Jan. 1 1906, and for the corresponding periods of last year,
other lines of bleached goods which pass through jobbers’ are as follows:
hands to fill orders from their trade will be in the shortest
d
a
g
g
K
*
g
supply experienced in this market in many seasons. Buyers
P
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P
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57
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G
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have awakened to this fact, and are now placing orders
cd & t a x o
a> ^
2- o a
(t p
g o
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PP*
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where formerly they were inclined to hold back, believing
CL *
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prices would be more in their favor. The curtailment of
C i l i i
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D
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P
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production at various mills, especially in the South, owing to
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in both the first and secondary markets.
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$ $ In addition to provisions now being made for the fall
• w
a
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season, jobbers are also making full allowance for require­
w,
ments for the early part of the spring season of 1907. In this
1 ^i 11t 1 1 a 1
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way orders are being placed on fine cotton dress fabrics of
O 5
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factory.H-sfsgl

si __ ______

"

is* D O M E S T IC C O T T O N 1G O O D S .— The exports of cotton
goods from this port for the week ending July 23 were 2,867
packages, valued at $205 ,5 4 9 , their destination being to the
points specified in the table below:
N ew Y ork to J uly 23.

Great Britain_______
Other European_____
China______________
India______________
Arabia_____________
Africa_____________
West Indies________
Mexico_____________
Central America_____
South America______
Other countries_____
Total_________ __

------ 1906-----Since
W eek .
J an . 1.
. 44
787
958
68,115
6,684
24,055
5,319
13,014
1,248
. 127
8,946
30,022
9,722
- 383
168,870

------ 1905-----Since
W eek .
J a n . 1.
27
710
447
31
82,854
213
9,076
15,349
31
6,605
545 16,676
110
1,530
436 10,253
601 33,385
229 10,620
2,223 187,505

The value of these New York exports since Jan. 1 has been
$9,623,749 in 1906, against $ 9 ,993,542 in 1905.
A feature of the week which has served to strengthen
the situation in the cotton goods market has been the
receipt of further inquiries from China for 4-yard sheetings
and other light-weight fabrics suitable for the China
trade. Unfortunately, however, mills manufacturing these
goods are well sold ahead, and have in m any instances
been unable to make the deliveries which export brokers are
demanding.
This has resulted in firmer prices on goods of
this description, and the buyer for export account is now
unable to secure goods at the prices which were paid when
these orders first began to come forward. There is a steady

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\

THE CHRONICLE

Ju ly 28 1906. J

S tate

C ity D e - a ft w ent .
p

and

News Items.
United States.— Panama Canal Bonds.— It is stated th at2,970 bids (m any of them for very small amounts) were re­
ceived on July 20 by the Secretary of the Treasury for the
new $30,000^000 2 % 10-30-year (optional) gold Panama
Mr,
Canal bonds of the United States Government.
Shaw, the Secretary of the Treasury
] ..
The higher
official awards will not be made until
vs:
H . A. Dobson. Washington......................
Charles E. Laveson. Lake Benton, Minn.
A. S. Frau & Sons, Washington------------E . T. Holmes. Palatka, Fla........................
Horace D. Shield, Grand Rapids, Mich—
Thomas J. Davitt, Montpelier. V t---------D . A. Morrison, Jr., Jacksonville------------Reuben W . Taylor. Taylor, Neb------------Iver S. RoU, Cottonwood, Minn------------Eli Cole, Jr., Bellerme, Ohio.
B. Thompson, St. Davids, Penn.
Frank L. Kuhn, Cleveland_______
M. J. Dyke. Windber, Pa................

!
\

German-American National Bank, Fort Wayne, Ind.

National Bank ot Barre, Barre, V t-------------------------------Farmers’ and Mechanics’ National Bank, Philadelphia.
E. J. Ryder, Lancaster. Pa-------------------------------------.—
Columbia National Bank, Buffalo-------------------------------First National Bank, Cheyenne, W y o -------------------------First National Bank. Hopkinsville, K y -----------------------Tiilln National Bank, Tiffin, Ohio--------------------------------J. W . Vanarsdale. Washington-----------------------------First National Bank, Antigo, Wis-------------------------First National Bank, Crete, Neb---------------------------Windber National Bank, Windber, Pa------------------First National Bank, Crete------------------------------------M. A. Marks, care First National Bank, Cleveiand.
Arthur R. Butler, Newington, Ya-------------------------A. H. Eastman. Berlin, N. H --------------------------------William H. Gulick, Washington-----------------------------First National Bank, Portsmouth-------------------------First National Bank, Pearisburg, Va--------------------Clarence O. Hartman. Port Clinton, Pa----------------H . H. Weber. York. Pa-----------------------------------------Grange National Bank, Tioga, Pa-------------------------First National Bank, Bottineau, N. D ------------------First National Bank, Grafton, W . V a ------------------John W . Mitchell. Washington____________________
Wallace Streator. Washington------------------------------Keystone National Bank, Pittsburgh--------------------Second National Bank. Jersey City-----------------------Eva McLain Meding. Washington-------------------------Merchants’ National Bank, Philadelphia.

f
t
l

Victor Spanner, East Orange, N. J---------H . G. Bonner, Windber, Pa_____________
First National Bank, Pendleton, Ore-----Fisk & Robinson. New York..
First National Bank, Napoleon, Ohio____
B. H. Warring. Washington--------------------Merchants' National Bank, Baltimore—
Merchants' National Bank, Baltimore—
First National Bank, Oswego, N. Y _____
Henry H. Deane, Jacksonville, Fla______
Palmetto National Bank, Columbia, S. C.
John H. Waring. W ashington__________
J. W . Benson. Brooklyn--------- _ .
Charles W . Cary, Elizabeth---------August E. Vogler, New York City.
John Telford, New York City-------Samuel Byerley, New York City..

r
1
i

t
i

r
t
i
l

$20
20
1,000
100
20
1,000
20
40
10,000
f 20
\ 20
20
l 20
40
100,000
200,000
200,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
50,000
10,000
20
300,000
150,000
50,000
100,000
150,000
20
30,000
60,000
75.000
60.000
5,000
20
100
500
50,000
75,000
20
200
15,000
5,500
150,000
500,000
100
200,000
150,000
500,000
1,000,000
1 000,000
1,000,000
600,000
200,000
50,000
5,000,000
5,000,000
5,000,000
37,500
300,000
100,000
200,000
50,000
400,000
300,000
100,000
500,000
1,000
1,000
1.000
1.000
1,000,000
1,000,000
I ,..... .
2,819,580

225

Bond Proposals and Negotiations this w
eek
haye been as follow s:
Akely, Hubbard County, M inn.— L o a n P r o p o s e d .— W c are
advised that this town has applied to the State for a loan
of 816,000 to refund outstanding indebtedness.
Akron School District (P. O. Akron), Summit County,
Ohio.— B o n d S a le .— The $50,000 3 .6 5 % school-building
bonds offered without success on June 30 have been disposed
of to parties not named, at par. See V. 82, p. 1334, for
description of bonds.
Arnettsville (P. O. Greenville), Ohio.— B o n d S a l e .— On
July 21 $1,710 6 % 1-4-year (serial) curb and sidewalk bonds
were awarded to the Farmers’ National Bank of Greenville
at 102.398.
Following are the bids:

125.00
110.00
110.00
Farmers’ Nat. Bank, Greenville..$1,751 IFirst Nat. Baak, A rctiu m ......... --S1.735
108.125
Farmers’ Bank Co.. Arcanum------ 1,7411
105.00
105.00
Interest annual.
105.00
105.00
105.00
Asheboro Graded School District (P. O. Asheboro), Ran­
105.00
dolph County, N. C.— B o n d s N o t S o l d . — No sale was made
104.875
104.50
on July 20 of the $10,000 5 % 20-year coupon school bonds
104.25
described in V . 83, p. 51.
W e are advised that the bids
104.S75
104.75
received did not conform to the published requirements.
104.56
Ashley, Gratiot County, M ich.— Bond O ff e r in g . — Pro­
104.06
104.51
posals will be received at any time by David Duncan, Presi­
104.46
dent, for $6,000 5 % 1-20-year (serial) sidewalk bonds.
104.41
104.36
Total debt, thi? issue. Assessed valuation $ 7 2 ,000.
104.31
104.26
Ashtabula, Ashtabula County, Ohio.— Bond O ffering.—
104.21
104.16
Proposals will be received until 12 m . Aug. 2§ by Frank W .
104.11
W agner, City Auditor, for $30,000 5 % coupon South Main
104.06
104.01
Street paving bonds.
Denomination $500 or $1,0 0 0 .
Date
103.96
April 1 1906.
Interest semi-annually at the office of the
103.91
104.0625 City Treasurer.
Maturity $3,000 yearly on Oct. 1 from 1906
104.021
to 1915 inclusive. Certified check for $1,000 on some bank
104.00
104.00
in Ashtabula, payable to the City Treasurer, required. All
104.00
bids to be unconditional. Accrued interest to be paid by
104.00
104.00
purchaser.
104.00
104.00
Baker City School District No. 5, Baker County, Ore.—
104.00
104.00
B o n d S a l e .— W e are advised that an issue of $10,000 5 %
104.00
refunding and $20,000 5 % school-building bonds has been
104.00
104.00
sold to the Baker Loan & Trust Co. of Baker City for $700
104.00
premium.
104.00
104.00
Beach City, Stark County, Ohio.— B o n d S a l e .— On July 2
104.00
104.00
the $12,000 4 % 5-28-year (serial) water-works bonds de­
104 00
104.00
scribed in V . 82, p. 1335, were awarded to Otis & Hough of
104.00
Cleveland at 100.025, purchaser to furnish blank bonds free
104.00
104.00
of charge.
104.00
104.00
Bellaire, Ohio.— B o n d S a l e .— On July 9 two issues of 6 %
104.00
104.00
53^-year (average) street-improvement bonds aggregating
104.00
$2,620 40 were awarded to the Brighton German Bank Co.
104.36
of Cincinnati at 104.80— a basis of about 4 .9 8 % .
104.16
103.93
Berkeley, Alameda County, Cal.— B o n d E le c tio n P o s t ­
104.31
104.30
p o n e d .— Owing to an error recently discovered in the call,
104.25
the election which was to be held July 21 to vote on the
104.23
104.10
question of issuing the $100,000 school, $137,000 town-hall,
103.89
$11,000 police-alarm-system and $50,000 fire-department
104.125
bonds, mention of which was made in V . 83, p. 51, has been
104.125
104.109
postponed until A ug. 25.
103.8755
104.10
Big Timber, Sweet Grass County, M o n t.— B o n d s V o t e d . —
104.07
This city by a vote of 48 to 12 recently authorized the issu­
103.S75
103.875
ance of $40,000 6 % 10-20-year (optional) water-works bonds.
103.875
103.875
Bisbee, Cochise County, A r iz . — B o n d S a l e . — On July IS
103.875
103,875
the $80,000 5 % 5-24-year (serial) coupon sewer-system bonds
103.875
described in V . 83, p. 112, were awarded to S . A . Kean of
104.125
103.990
Chicago at 100.10— a basis of about 4 .9 9 % .
103.975
103.867
Blair County (P.
H ollidaysburg), P a .— B o n d O ffe r in g .—

It is understood that unless some of the bidders fa»i to
make a deposit of an amount equal to the premium bid by
Aug. 1, as required by the Secretary, that the above list will
constitute a list of awards to be made b y the Secretary on
that date.
See V. 83, p. 12, for description of securities.
As a result of a conference between the Secretary of the
Treasury and Fisk & Robinson, an agreement was made
whereby the bonds which will be allotted to the New York
firm will be put on sale at 104.40, to which 3 % interest will
be added after Aug. 1, this being 1 % interest above the 2 %
accruing on the bonds.
The bonds are generally looked upon
as “ 30-year” securities; for although carrying a “ 10-year”
optional clause, it is not believed that the Government will
exercise this option.
Certainly nothing could be gained by
refunding, as a better rate of interest could hardly be
obtained.
Omaha, N eb .— V a lu e o f W a te r P l a n t .— The Board of A p­
praisers selected in 1903 to fix and appraise the value of
the water-plant of the Omaha W ater Co., preliminary to the
purchase of the property by the city, on July 7 made its
report, fixing the value at 8 6 ,2 6 3 ,2 9 5 . The city is not in­
clined to pay this sum and the water company has brought
suit to compel the purchase of the property. See item under
head of Omaha W ater Co. in our “ Investment News” De­
partment, elsewhere.
Philippine Isla n d s. — B o n d O ffe r in g .— The Bureau of In­
sular Affairs of the W ar Department announces that it will
offer for sale on Aug. 23 $1,000,000 4 % 1-year certificates
to refund certificates maturing on Sept. 1.

O.

Proposals will be received until 10 a. m . A ug. 14 at the County
Commissioner’s office for $175,000 3 .6 5 % registered improve­
ment bonds.
Denomination $1,000.
Date July 2 1906.
Interest January and July at the office of the County Treas­
urer. Maturity July 1 1936, subject to call after July 1 1921.
Bonds are free from State tax.
Certified check for 2 % ,
payable to the Treasurer of Blair County, required. W . S.
Hostler is County Clerk.
Bloomington School District (P. O. B loom ington), Monroe
County, In d .— B o n d S a l e . — On July 5 the $22,300 4 % 1-10year (serial) school-building bonds mentioned in V . 82, p.
1511, were awarded to the First National Bank of Blooming­
ton for $22,770 and interest.
Denomination $500 except
one bond for $300.
Date July 1 1906. Interest June and
December.
Blount County (P. O. M aryville,) T en n .— B o n d E le c tio n .—
On Aug. 2 a proposition to issue $100,000 road bonds will
be submitted to a vote of the people.
Bonne Terre School District N o. 12 (P. O. Bonne Terre),
St. Francois County, M o .— B o n d O ffe r in g . — Proposals will be
received until 6 p. in. Aug. 15 by the Board of Education,
C. P. Poston, President, for $20,000 5 % coupon building
bonds. Authority, vote 248 for to 74 against at election
held May 12 1906.
Denomination $1,000.
Date Oct. 1
1906. Interest Feb. 1 and Aug. 1 at the Farmers' & Miners
Bank in Bonne Terre. Maturity $1,000 yearly on l'eb. 1
from 1907 to 1926 inclusive. Purchaser to pay for printing
blank bonds. Present debt of district, $15,600.
Assessed
valuation, $944,294.

THE CHRONICLE

226

Bratenahl, Cuyahoga County, Ohio.— Bond S ale. —On
July 20 the $1,550 5% coupon boulevard-improvement
bonds described in V. 82, p. 1511, were awarded to Hayden,
Miller & Co. of Cleveland.
Buffalo, N. Y .— Bond O ffering. —
Proposals will be received
until 12 in. Aug. 1 by George M Zimmermann, City Comptrollcr, for the following bonds:
$300,000 3t£ % 20-year (non-taxable). registered consolidated school bonds. Au­
thority Chapter 548 Laws of 1905, as amended by Chapter 202
Laws of 1900.

Bonds will be dated Aug. 1 1906. Interest will be payable
semi-annually at the office of the City Comptroller or at the
Gallatin National Bank of New York City. Certified check
for 2% of the bonds bid for, payable to the above-named
City Comptroller, required.

[VOL. LXXX11I,

Browne-Ellinwood Co. of Chicago for $ 2 9 ,4 2 7 — a basis of
about 4 .8 2 8 % to the optional date and 4 .8 8 4 % to full
maturity. Interest January and July.
Cooper, Delta County, T ex.— B o n d S a l e . — The $13,600
5 % 10-40-year (optional) school-house bonds registered by
the State Comptroller on June 12 have been sold to the State
Board of Education on a 4 p*>% basis. These bonds are
dated April 1 1906.

Corning, N. Y . — B o n d S a l e . — On July 13 a $1,459 80 5 %
paving bonds was awarded to D. S. Drake at par.
Date of
bond, July 13 1906.
Interest annually on May 1.
Maturity
one-third on May 1 of each of the years 1907, 1908 and 1909.
Corsica Independent School District (P. O. Corsica),
S. Dak.— Bond O ffe r in g . — Proposals will be received until

Burgettstown, Washington County, Pa.— Bond Election.— 2 p. m. A ug. 3 by .1. F. Van Gorkom, Clerk, for $3,000 5 %
The Town Council, it is stated, has determined to hold an coupon first mortgage school-house bonds. Denomination
election to authorize a loan of $8,000 for street improvements. $1,000. Date Sept. 1 1906. Interest semi-annual. Ma­
Butler County (P. O. Poplar Bluff), M o .— Bond O ffering.—- turity ten years.

Proposals will be received until 1 p. m. Aug. 7 by George C.
Covington, Tipton County, Tenn.— B o n d s V o t e d . — By a
Orchard, County Clerk, for $815,000 6% Drainage District vote of 172 to 25 this city on July 17 authorized the issuance
No. 7 bonds. -Denomination $1,000. Date Oct. 1 1906. of $15,000 sewer bonds.
Interest semi-annually at office of County Treasurer. Matur­
Crary School District (P. O. Crary), Ramsey County,
ity yearly on Oct. 1 as follows:
Minn.— B o n d s D e fe a te d . — -This district on June 28 by a vote

$4,000_ in— 1908 812,000 _ in ..1 91 3 819,000..
_
5.000
in
1909 1 2 .000.
19.000.
. in ..1 91 4
6.000
in— 1910 13.000.
. in ..1 9 122.000.
5
r 9,000— in— 1911 1 6.000.
. in ..1 9 122 000
6
'1 0 ,0 0 0 .--in - -1912 1 9.000.
. in ..1 91 7

,

.

in
in
in
in

..1 9 1 8 1825,000..
..1 9 2 0 1 25.000.
..1 92 1 2 5 .0 0 0 .
..1 92 2 3 3 .0 0 0 .

in ..1 92 3
in ..1 92 4
in. ..1 9 2 5
in . ..1 9 2 6

Q

Certified check for $5,000, payable to the County Treas­
urer, required.
- Caney, Montgomery County, K an. — Bond O ffering .— Pro­
posals will be received until 3 p. m. Aug. 10 by M. E. McMil­
lan, City Clerk, for $30,000 5% coupon water-improvement
and extension bonds. Authority Chapter 101, Laws of
1905. Denomination $500. Date July 15 1906. Interest
semi-annually at the State Fiscal Agency in New York City.
Maturity yearly on July 15 from 1925 to 1936 inclusive.
Bonds are exempt from taxes. Certified check for 5% , pay­
able to the City of Caney, required. Bonded debt at present,
$23,525; floating debt, $4,100. Assessed valuation, $233,084.
Canton, Stark County, Ohio.— Bond Sale. —The four
issues of bonds offered by this city on July 16 (see V. 82,
p. 1394, for description) were awarded as follows:
$5,000 l-5-year (serial) Fulton Street bonds. Awarded to the New First. Nat.
Bank of Columbus for $5,057 50 for 5s.
3,200 3 1-5-year (average) Hartford Street Bonds. Awarded to the New First
Nat. Bank of Columbus for $3,236 80 for 5s.
10.000 10-year public-park bonds. Awarded to Otis & Hough of Cleveland for
$10,023 for 4s.
29.000 10-year refunding bonds. Awarded to Otis & Hough of Cleveland for
$29,078 30 for 4s.

Carmen, Woods County, Okla.— Bonds Voted.— Bond
O ffering. —This town on July 17, by a vote of 88 to 47, au­

thorized the issuance of $20,000 6% 10-20-year (optional)
water-works bonds. Proposals for these bonds will be re­
ceived at any time by H. A. Kehn, Town Clerk.
Chariton, Lucas County, Iow a.— Bond S ale. —On July 10
$35,000 5% water bonds were awarded to F. R. Crocker for
$35,200. Denominations $100 to $1,000. Date July 1
19013. Interest semi-annual. Maturity July 1 1926 subject
to call in 5, 10 and 15 years. The following bids were re­
ceived:
$35,000
F. R . Crocker__________________ $35,2001G.M.Bechtel & Co.,Davenport
S. A. Kean, Chicago_____________ 35.175IF. E. Magraw, St. Paul__________ 35,000

Chickasaw County (P. O. Houston), M iss.— Bonds P ro ­
posed. —The issuance of drainage bonds is being considered

by the Board of Supervisors.
Chillicothe, Ohio.— Bond Sale. — On July 23 the nine issues
of 4% and 4
sewer and street bonds aggregating $26,300,
a description of which was given in V. 83, p. 112, were
awarded to the Central National Bank of Chillicothe at
101.70. These securities are not new issues but have been
held in the sinking fund as an investment.
Claremore, Ind. Ter.— Bond O ffering. — Proposals will be
received until 2 p. m. Aug. 9 by G. Edwin Brown, Mayor,
and the City Council, for $85,000 5% water-works bonds.
Authority,vote 282 to 7, at election held July 3 1906. De­
nomination $1,000. Date July 15 1908. Interest semi­
annually at the National Bank of Commerce in New York
City. Maturity July 15 1926. Certified check for $2,000,
payable to the Town Treasurer, required. The town has
no bonded debt at present. Assessed valuation 1903,
$1,500,000.
Clarinda, Page County, Iowa.— Bond Sale.—It is stated
that this place has sold an issue of $47,000 4DJ% refunding
bonds to Geo. M. Bechtel & Co. of Davenport at 100.50.
Cleveland, Ohio.— Bonds Authorized.— The issuance of the
following bonds was authorized by the City Council on
July 9:
$45,000 4% coupon refunding bridge-repair bonds.
23.000 4% coupon refunding sewer-district bonds.

of 43 for to 66 against defeated a proposition to issue $9,000
4 % building bonds.
Crowley, L a. — B o n d E le c tio n . — Local reports state that
the election to vote on the proposition to issue the $50,000
sewer, $20,000 water, $15,000 school-building and $15,000
refunding school bonds mentioned in V . 83, p. 52, has been
called for Aug. 16.

Crowley Independent School District (P. O. Crowley q
Tarrant County, T e x . — B o n d S a l e .— The $6,600 5 % 20-40year (optional) school-house bonds reg'stered hy the State
Comptroller on June 23 have been sold at par and interest
to the State Board of Education.

Cuyahoga County (P. O, Cleveland), Ohio.— B o n d S a l e . —
On July 21 the $5,000 4 % coupon Petrie Road bridge bonds
described in V. 83, p. 52, were aAvarded to Geo. O ’ Neill (the
only bidder) at par and accrued interest. Securities mature
$1,000 yearly on Oct. 1 from 1907 to 1911 inclusive.
Cuyahoga Falls, Ohio.— B o n d O ffe r in g . — Proposals will be
received until 12 m . Sept. 3 by C. D . Crumb, Village Clerk,
for $4,500 4 % water-works bonds.
Denomination $500.
Date Sept. 1 1906.
Interest semi-annually at the office of
the Village Treasurer. Maturity $500 yearly on March 1
from 1908 to 1916 inclusive.
Certified check for 5 % of
bonds bid for, drawn on some bank in Akron, payable to the
Village Treasurer, required.

Davidson County (P. O. Nashville), Tenn.— B o n d E le c tio n .
— An election has been called for A ug. 2 to vote on propostions to issue $27,500 site, $75,000 court-house and $57.50i
jail coupon bonds.

Dawson, Terrell County, Ga — B o n d s N o t to B e O ffered at
P r e s e n t .— W e are advised that the $30,000 5 % sewer bonds
voted at the election held April 11 1908 will not be offered
for sale before September or October, as the bonds will be
dated Nov. 1 1906.
Delaware, Ohio.— B o n d O ffe r in g . — Proposals will be leceivee until 12 m. Aug. 6 by F. D . K in g, City Auditor, for
the following bonds:
$9,000 5% 1-10-year (serial) coupon North Sandusky Street assessment bonds ol
S900 each.
2.500 5% 1-10-year (serial) coupon North Sandusky Street (city's portion) bonds
of $250 each.
3.500 5% 1-10-year (serial) coupon North Sandusky Street assessment bonds of
S350 each.

Securities are dated June 1 1905.
Interest semi-annually
at the depository of the City Sinking Fund.

Dexter Union Free School District No. 7 (P. O. Dexter),
Town of Brownville, Jefferson County, N. Y . — B o n d O ffe r ­
i n g . — Proposals will be received until 12 m. July 30 bjr A . L.

Morgan, President Board of Education, for $10,000 4 %
building bonds.
Denomination $500. Interest annually
on Nov. 1 at the Watertown National Bank in W atertown.
Maturity one bond yearly beginning N ov. 1 1903.
The
district has no debt at present. Assessed valuation 1905,
$518,000.
Eastchester (Tow n), W estchester County, N . Y . — B o n d
O ffe r in g . —-Proposals will be received until 8 p. m . A ug. 1
by H . C. Merritt, Town Superv’sor (P. O. Tuckahoe), for
$11,217 14 4 % registered bonds issued to pay damages
caused by change of grade of Jefferson Place.
Authority
Chapter 568 Laws of 1890 as amended by Chapter 530 Laws
of 1906.
Denomination $1,0 0 0 , except one bond for $217 14.
Date Sept. 1 1903. Interest semi-annually at the First
National Bank of Mount Vernon.
Maturity $5,000 Sept. 1
1925 and $3,217 14 Sept. 1 1928.
Certified check for S500
required.
Eatonton, Putnam County, G a .— B o n d E le c t i o n . — Several
changes having been made in the details of the bonds, the
election called for July 18 to vote on the question of issuing
$15,000 sewer bonds was postponed until Aug. 1.
The
bonds, if authorized, will now carry 5 % interest and will
mature one bond of $500 yearly for thirty years.

Denomination $1,000. Date Sept. 1 1908. Interest
semi-annually on April 1 and October 1 at the office of the
City Treasurer. Maturity Oct. 1 1920.
Coitsville Township (P. O. Youngstown R. F. D .),
Mahoning County, Ohio.— Bond Sale.— On July 2 the $20,000
4% 10-14-year (serial) coupon road bonds described in V. 82,
p. 1335, -were awarded to the Commercial National Bank of
Youngstown at par.
Ecru, Pontotoc County, M is s . — B o n d s N o t S o l d .— No sale
Colfax County, N . M ex.— Bond Sale.— On July 2 $28,900 has yet been made of the $4,000 5 % 5-20-year (optional)
5% 15-30-year (optional) refunding bonds were awarded to registered school-building bonds offered on July 3. W e are

J u ly 28 1906.

THE CHRONICLE.

*>27

informed by the Mayor that two bids of par have already
been received for these bonds.

3 % of the face value of the bonds bid for, payable to the City
Treasurer, is required.

El Dorado Springs, Cedar County, M o .— B o n d S a l e . — On
July 23 the $5,000 5 % 10-20-year (optional) judgm ent­
funding bonds described in V . 83, p. 173, were awarded to
Trowbridge & Niver Co. of Chicago at 100.71— a basis of
about 4 .9 0 % to the optional date and 4 .9 4 % to full maturity.
Denomination $500.
Interest January and July.

Grand Junction, Mesa County, Colo. B on d E lec tio n .
It
is stated that the City Council on July 11 passed an ordi­
nance providing for an election to be held Aug. I to vote on
a proposition to issue $300,000 water-system bonds.

Ellwood City, Lawrence County, P a .— B o n d O fferin g
Proposals will be received until 2 p. m. Sept. 1 by John H .
Hossler, Burgess, for $15,000 4 ' o % street, sewer and electriclight bonds.
Denomination $500.
Maturity twenty years
subject to call after ten years.
Certified check for $500
required.
Emsworth (Borough), Allegheny County, P a .— D e s c r ip ­
tion o f B o n d s . — The $35,000 4 % ($25,000 sewer, $8,000 street,
and $2,000 funding) bonds awarded on July 5 to Mrs. Eliza­
beth Y . Stephenson of Pittsburgh at par (see V . S3, p. 173)
are in denomination of $1,000.
Date July 1 1906. Interest
semi-annual.
Maturity $5,000 July 1 1921, $8,000 July 1
1926, $10,000 July 1 1931 and $12,000 July 1 1936. “No
other bids were received.
Essex County (P. O. Newark), N . J .— B o n d S a l e . — On July
25 the $500,000 4 % 40-year gold coupon hospital-extension
bonds described in V . 83, p. 113, were awarded to Jno. D .
Everitt & Co. and Howard K . Stokes of New Y ork City, at
100.571— a basis of about 3 .9 7 2 % .
Following are the "bids:

5 % 10-40-year (optional) school-house bonds dated June 1
1906 and registered by the State Comptroller on June 30
have been sold to the State Board of Education on a 4 1 %
bass.

Jno. O. Everitt &Co.. Xew YorktlOO.5711A. B. Leach & Co., New York_ 100.375
_
Howard K Stokes, Xew York___J
German Sav. Inst'n (for $50,000). 103.02

Faribault School District (P. O. Faribault), Rice County,
M in n ,— B o n d S a le . — This district has disposed of to the State
at par an issue of $4,500 4 % school bonds.
Fayette, Howard County, M o .— B o n d s P r o p o s e d . — The
City Council is considering the question of issuing $8,000
water-works-improvement bonds.
Franklin County (P. O. Carnesville), G a .— D es c rip tio n o f
B o n d s . — The $50,000 4 Y% % court-house bonds, which we
stated last week had been sold, are in denomination of
$1,000.
Date June 11 1906. Interest June and December.
Maturity yearly from 1908 to 1928 inclusive. These bonds
were authorized at the election held June 9 1906.
Franklin County (P. O. H am pton), Io w a .— B o n d S a le . —
On Jul}' 2 $16,000 l-1 0 -jrear (serial) Morgan Township
drainage bonds were awarded to the Franklin County State
Bank of Hampton at par for 5s. Denominations $1,000
and $600.
Date July 2 1906. Interest semi-annual. The
following bids were received:
Franklin Co. State Bank. Hampton— Par and interest for os.
Citizens' Xat. Bank of Hampton— $16,010 and interest for 5,qs.
Wm. R. Compton Bond & Mort. Co., Macon— Par and interest for 5Ms.
State Savings Bank, Hampton— Par and interest for 5.3s.
Robinson Bros., Hampton— Par and interest for 5 l-3s.
Geo. M. Bechtel & Co.. Davenport— $16,070 andinterest for o'As.
W . J. Hayes & Sons, Cleveland— $16,055 and interest for 6s.

Franklin (Town) School District N o. 9, Franklin County,
N . Y . — B o n d O ffe r in g . — Proposals will be received until
6 p. m. A ug. 1 by Herbert L. A bbott, Sole Trustee, at the
office of Seaver A . Miller, on Main Street in Saranac Lake,
for $1,000 bonds at not exceeding 6 % interest.
Denomina­
tion $333 1-3.
Date Sept. 1 1906. Interest semi-annually
at the Adirondack National Bank in Saranac Lake. Ma­
turity one bond yearly.
Certified check on a national bank
for 5 % of the amount bid required.
Frem ont, Ohio.— Bond O ffe r in g . — Proposals will be re­
ceived until 12 m. Aug. 16 by the City Auditor for $8,800 4 %
South Street paving bonds.
Denomination $500, except
one bond for $300. Date Aug. 1 1906. Interest April 1
and Oct. 1.
Maturity S500 each six months from Oct. 1
1907 to April 1 1916 (except Oct. 1 1911, when none will
mature) inclusive and $300 Oct. 1 1916.
Certified check on
a Fremont bank for 1 0 % of the bonds bid for, payable to the
City Treasurer, is required. Accrued interest to be paid by
purchaser.
Fulton, M o .— B o n d s V o te d . — On July 21 this city voted to
issue $20,000 water and light-plant bonds.
Galveston, T e x . — B o n d s R e g iste r ed .— On July 20 the State
Comptroller registered $679,000 5 % grade-raising bonds
bearing date Oct. 1 1904.
These bonds simply take the place
of securities registered by the Comptroller some time ago
bearing the signature of Mayor Austin.
Before the securi­
ties were negotiated Mayor Austin died, and, we are informed,
it became necessary to issue new bonds in their place.
Gloucester City, N. J .— B o n d s A u t h o r iz e d . — The City
Council on July 19 authorized the issuance of $55,000
school and $8,000 water-works-improvement bonds.
T e m p o r a r y L o a n . — This city recently borrowed $15,000
from a local bank.
Loan was for current expenses.
Grand Rapids, M ich .— B o n d O ffe r in g . — Proposals will be
received until 4 p. m. July 30 by John L. Boer, City Clerk,
for the following bonds:
$' 6,000 4 i coupon bridge bonds. Dneomlnatlon $1,000 except one bond tor $000.
oaf« July 16 1006. I merest -e.-nl-annual. Maturity July 16 V -’6.
100.000 r c coupon -ewer-construction bonds. Denomination SI .000. Date May I
1006. Interest semi-annual. Maturity $20,000 yearly on May 1
from 1007 to 1011 Inclusive.
104.000 1 ; coupon We.-t Side Big Ditch bonds. Denomination SI.010. Date
July 10 1006. Interest semi-annual. Maturity $10,100 yearly on
July 16 from 1007 to 1016 Inclusive.
200.000 4 ; coupon -trceUmprovement bond*. Denomination $ 1.000
Dai - May
I 1006. Interest semi-annual. Maturity $40,000 yearly on May 1
from 1007 to toil Inclusive.

Interest on the above bonds will be payable at the office
of the City Treasurer. An unconditional certified check for

Grand Saline Independent School District (P. O. Grand
Saline), Van Zandt County, Tex.— B o n d S a l e . — The $16,500

Greece Union Free School District No. 4, Monroe County,
N . Y . — Bond O ffering. — Proposals will be received until 8
p. m ., July 31, by John M . Keon, District Clerk (P. O. Char­
lotte), for $21,000 (rate to be named in bids) registered highschool-building bonds.
Denomination $ 1 ,000.
Date July
1 1906.
Interest semi-annually.
Maturity $1,000 yearly
on July 1 from 1916 to 1936 inclusive. Certified check for
$500, payable to Robbert Hedditch, Treasurer, is required.
The district has no bonded debt at present.
Assessed valua­
tion, $ 1 ,1 60,082.
These bonds were offered as 3j/£s on May
15, and again as 4s on July 7, but without success.— V . 82,
p. 1170; V . 83, p. 113.

Greene County (P. O. Bloomfield), In d.— Bond Offering
Proposals were asked for until 1 p. m . yesterday (July 27)
by B. B. Mitten, County Treasurer, for $45,570 4 y % % coupon
gravel-road bonds. Securities are dated Aug. 30 1906.
Interest May and November.
Maturity part each six months
for twenty years. A t the hour of going to press the result of
this sale was not known to us.
Hagerstown, Washington County, M d .— Bond Sale.— On
June 25 this city sold $10,000 4 % drainage bonds in small
lots at prices ranging from 101 to 104.
Denominations $100
and $500.
Date July 1 1906. Interest semi-annual.
Ma­
turity $2,000 yearly after 1909.
Hamilton, Ohio.— Bonds Authorized. — On July 10 an
ordinance passed the City . Council authorizing the issuance
of $1,600 4 % 10-year coupon South Fifth Street storm-sewer
bonds.
Denomination $500 except one bond for $100.
Date Aug. 1 1906. Interest semi-annual.
Bond E lection. — A special election will be held Sept. 1
to vote on the question of issuing $305,000 bonds for the
improvement of the gas, electric light and water plants.
Harrison, Sioux County, Neb.— Bond O ffering. — Proposals
will be received until 8 p . m . A ug. 10 by W . H . Davis, Village
Clerk, for $3,500 6 % water-extension bonds.
Denomination
$500.
Date July 1 1908. Interest annually in Harrison.
Maturity July 1 1926, subject to call after July 1 1916.
Bonded debt, including this issue, $ 5 ,500.
Assessed valua­
tion 1905, $23,366.

Hempstead School District No. 8 (P. O. Roosevelt), Nassau
County, N. Y . — Bond O ffering. — Proposals will be received
until 8 p. m . A ug. 1 by Richard D eLap, District Clerk, for
$15,000 4 % school-building bonds. Denomination $1,000.
Date July 15 1906. Interest Jan. 1 and July 1 at the First
National Bank in Freeport. Maturity $1,000 yearly from
Jan. 1 1911 to Jan. 1 1925 inclusive.
Certified check on a
bank or trust company in New York State for 5 % of bid,
payable to the Trustees of School District No. 8, required.
These bonds were offered but not sold on July 20.

Henderson County (P. O. Henderson), K y .— Bond Elec­
tion. — A t the November election a proposition to issue $300 ,000 court-house and municipal-improvement bonds will be
submitted to voters of this county.

Higginsville School District No. 5, Lafayette County, Mo.
— Bond, Offering. — Proposals will be received until 7 p. m .
Aug. 10 by W alter M. McElroy, Secretary Board of Educa­
tion, for $25,000 (not $2,500 as some of the official adver­
tisements have it printed) 4
coupon school-building
bonds. Authority, election held June 9.
Denomination
$500.
Date Aug. 10 1908. Interest annually in Higgins­
ville. Maturity twenty years, subject to call after ten years.
Bonded debt at present, $5,500.
Assessed valuation,
$628,000.
Hope School District (P. O. H ope), Eddy County, N. M ex.
— Bond Sale.— This district has disposed of an issue of $10,000
building bonds.

Houston, Tex. — B o n d O ffe r in g . — Further details a < at
*
hand relative to the offering on A ug. 10 of the $43 1,700 ■>' ,
coupon water-plant-purchase bonds.
Proposals for lh< se
bonds are to be addressed to the Mayor.
l)t'nominal .on
81,000.
Date July 16 1908. Interest semi-annually a I i ho
Union Trust C o., New York City.
Maturity July I > 194<>.
Bonds are exempt from all taxes.
These securities v\>n*
authorized at the election held June 21 1906 .— V . 82, p. 1513.
Houston Heights School District (P . O . Houston Heigh ts ),
Harris County, T e x .— P on d s V o t e d . — The elect :<m July 21 r
suited in a vote of 50 to 4 in favor of the proposit am to
ie
$15,000 5 % 30-year school-building bonds.
Hudson, Summit County, Ohio. — Bonds D>}<>
1i
village recently decided against the .ssaanee "i $ P .» '
lighting-plant bonds.
Idaho Falls, Bingham County, Idaho. -Boio O ff
Proposals will be received until 8 p. m. Aug. 1 1 Py •.

228

THE CHRONICLE.

Platt, City Clerk, for $47,000 coupon water and electrielight-plant bonds at not exceeding 6 % interest. Authority
special election held June 19 1906. Denomination $1,000.
Date Aug. 15 1906. Interest semi-annually at place to be
agreed upon with purchaser. Maturity Aug. 15 1926, sub­
ject to call after Aug. 15 1916. Bonded debt, including
this issue, $100,500. Assessed valuation 1905, $675,000.
Bonds are exempt from all taxes.
Indianapolis, Marion County, Ind.—Bonds Authorized.—
The City Council on July 23 passed an ordinance authorizing
the issuance of $300,000 city-hall bonds.
Jackson County (Ore.) School District No. 6 .—Bond Sale.
— On July 14 an issue of $12,000 5% 2-12-year (optional)
school-house bonds was awarded to the First National Bank
of Medford at 102.02— a basis of about 3.94% to the op­
tional date and 4.778% to full maturity. Denomination
$ 1,000 . Date July 14 1906. Interest semi-annual. The
bids received were as follows:
First National Bank, Medford.$12,242 5 0 J W . H . Leeds, Ashland..............$12,081 0 0
Morris Bros., Portland......... .. 12,220 501

Java, Walworth County, S. Dak.—Bond Sale.—This town
recently disposed of an issue of $ 2,000 6 % fire and water
bonds to Miss Sarah A. M. McCallum at par. Denomination
$1,000. Date July 5 1906. Interest semi-annual. Ma­
turity July 5 1916.
Jefferson Davis County (P. O. Prentiss), Miss.—Bond
Sale.— On July 6 an issue of $40,000 5% court-house bonds
was awarded to John Nuveen & Co. of Chicago at 103. An
offer of 101.25 was also received for the bonds from Mac­
Donald, McCoy & Co. of Chicago. Securities are dated
July 6 1906. Interest semi-annual. Maturity 1916, 1921
and 1926.
Jenkins County (P. O. Millen), Ga.— Bond E lection. — An
election will be held A ug. 22 to vote on the question of
issuing $90,000 court-house, jail and bridge bonds.
Johnson City, Washington County, Tenn.— Bond S ale.—
On July 19 the $17,500 5 % 20-year school-building bonds
described in V . 82, p. 1456, were awarded to Albert K ley bolte & Co. of Cincinnati at 101.714 and interest— a basis of
about 4 . 8 6 ^ % .
Following are the bids:
A. Kleybolte & C o., Cmein_.$17,800 00
A. J. Hood & Co., Detroit____al7,786 00
F . L. Fuller & Co., Cleveland. 17,765 00
S. A. Kean, Chicago__________ 17,727 50
Mr. Webb, A tty., Asheville... 17,712 50
Farson. Son & Co., Chicago___ 17,700 00

Weil, Roth & Co., Cincinnati..$17,680
W . J. Hayes & Sons, Cleve___ 17,598
Brown-Ellinwood & Co., Chic. 17,525
Provident S.Bk.& Tr.Co.,Cin.. 17,500
Farmers' & Merchants’ Nat.
Bk., Nashville (for $2,500). 2,500

00
00
00
00
00

E ici And blank bonds.
k

Kewanee, 111.— Bond O ffering. — This city is offering for
sale A ug. 1 $6,000 5 % coupon water-works-improvement
bonds. Interest semi-annually at the office of the Treasurer.
Maturity $3,000 A ug. 1 1907, $1,000 A ug. 1 1908, $1,000
A u g. 1 1909 and $1,000 A ug. 1 1910. Securities are dated
A ug. 1 1906.
Bonded debt, including this issue, $53,800.
B . M . Cavanagh is City Collector.

Lancaster School District, Los Angeles County, Cal.—
Bonds Voted.— This district on July 14 by a vote of 33 to 0
authorized the
school bonds.

issuance

of

$2,000

5%

1-4-year

(serial)

Larned, Pawnee County, Kan.— Bond S ale. — This city
has sold $30,000 4 J ^ % water-works bonds to the Kansas
State Board of School Fund Commissioners at par. Securi­
ties are part of an issue of $40,000 bonds voted at the election
held on April 3 1906. They are dated July 1 1906.
Larned School District (P. O. Lamed), Pawnee County,
Kan.— Bond O ffering. — Proposals will be received at any
time b y George W . Finney, Clerk Board of Education, for
the private sale of $20,000 4 J ^ % coupon school-house bonds.
Denomination $1,000.
Date June 1 1906. Interest Janu­
ary and July. Maturity $1,000 yearly on July 1 from 1910
to 1924 inclusive and $5,000 July 1 1925.
Bonded debt at
present, $ 2 ,000.
Assessed valuation 1906, $565,496.

Lewistown(Borough),Mifflin County,Pa.— Bond Offering.
— Proposals will be received until 8 p. m . July 31 by Leopold
Koenig, Chairman Finance Committee, for $15,000 4 %
10-30-year (optional) bonds.
Denomination $500.
Date
A ug. 1 1906.
Bonds are free from all taxation.
Lincoln, N eb .— Bond Sale. — On July 23 the $50,000
coupon refunding bonds described in V . 83, p . 54, were
awarded to the Lincoln Safe Deposit & Trust Co. of Lincoln
at 100.025 and interest for 4 ^ % s .

Live Oak, Suwannee County, Fla.— Bond O ffering.— Fur­
ther details are at hand relative to the offering on Sept. 15
of $200,000 5 % coupon public-improvement bonds. Pro­
posals for these bonds will be received until 3 p. m . on that
day by the Board of Bond Trustees, C. L . Burnett, Chair­
man. Securities are issued for the following purposes:
$75,000 for street paving, $75,000 for water-works, $35,000
for sewerage, $10,000 for city hall and market and $5,000
for fire department purposes.
Denomination $500.
Date
Feb. 28 1906. Interest Jan. 1 and July 1 at the office of the
City Treasurer.
Maturity Feb. 28 1936.
Bids to be made
on blanks furnished by the city. The legality of the issue
has been approved by Messrs." Dillon & Hubbard of New
Y ork City.
Bonds will be delivered to the successful bid­
ders in sums of $10,000 as the work progresses, and it is
expected that the entire issue will be put out b y Sept. 15
1907. Certified check for 2 % of the par value of bonds bid
for, payable to the Board of Bond Trustees, is required.

[VOL. LXXXIII.

Louisa, Louisa County, V a .— Bond Election.—An election
will be held Aug. 9 to vote on the question of issuing $6,000
5% sidewalk bonds.
Lykens Township School District (P. O. Bloomville),
Crawford County, Ohio.— Bond Sale.— On July 2 the $3,000

5% coupon school-house bonds described in V. 82, p. 1397,
were awarded to the Commercial National Bank of Tiffin
for $3,026. Securities are dated July 16 1906 and will
mature $600 each six months from March 1 1907 to Marchjl
1909 inclusive. The district has no debt at present. As­
sessed valuation 1905, $743,490.
Marion County (P. O. Indianapolis), In d.— Bond Offering.
— Further details are at hand relative to the offering on Sept.
1 of $98,000 33di% coupon voting-machine bonds. Proposals
for these bonds will be received until 12 m. on that day by
Cyrus J. Clark, County Auditor. Authority, ordinance No.
55, passed Jan. 11 1906. Denomination $1,000. Date
Sept. 1 1906. Interest semi-annually at Winslow, Lanier &
Co. of New York City. Maturity $10,000 yearly on Sept. 1
from 1907 to 1915 inclusive and $8,000 Sept. 1 1916. Each
bid must be made on a blank form furnished by the city and
must be accompanied by a certified check on some bank in
Indianapolis for 3% of par value of bonds, payable to the
Board of Commissioners of Marion County. Each bidder
must file with his bid an affidavit that he has not entered
into any combination, collusion or agreement with any per­
son relative to the price to be bid by any one at the letting
of said bonds, nor to prevent any person from bidding, nor
to induce any one to refrain from bidding; and that his bid
is made without reference to any other bid and without any
agreement, understanding or combination with any other
person in reference to such bidding.
Mayfield Township School District (P. O. Wilson M ills),
Cuyahoga County, Ohio.— Bond Offering.-—Proposals will be

received until 12 m. Aug. 14 by F. J. Willson, Clerk Board
of Education, for $8,000 5% coupon bonds. Authority
Sections 3991, 3992 and 3,993 Revised Statutes of Ohio; also
election held June 18 1906. Denomination $1,000. Date
Oct. 1 1906. Interest semi-annually at the Citizens’ Savings
& Trust Co. in Cleveland. Maturity $1,000 yearly on Oct. 1
from 1907 to 1914 inclusive. Accrued interest to be paid by
purchaser. Certified check for 10% of bonds bid for re­
quired.
Medicine Hat, Alberta, Canada.— Debenture Offering.—
Proposals will be received until 8 p. m. Aug. 20 by W. N.
Adsit, Secretary and Treasurer, for $40,000 water, $8,000
natural-gas and $10,000 municipal-building 5% coupon
debentures. Securities are dated Aug. 1 1906 and will
mature part yearly for thirty years. Debenture debt, in­
cluding these issues, $225,262. Ratables for 1906, $1,595,929.
Memphis, Tenn.—Bond Sale.—The $200,000 4% water
bonds offered on July 17 were awrarded on July 24 to the
Bank of Commerce & Trust Co. of Memphis at par. See
V. 83, p. 54 for description of bonds.
,
Mercer County (P. O. Celina), Ohio.—Bond Sale.— On
July 14 the $11,000 5% 7 2-3-year (average) coupon Hays’
Free Turnpike bonds described in V. 83, p. 114, were
awarded to the Commercial Bank Co. of Celina at 106— a
basis of about 4.08%.
Bond Sale.— On July 21 the four issues of 4% road-im­
provement bonds aggregating $58,000, a description of
which was given in V. 82, p. 1456 and V. 83, p. 114, were
awarded to the Commercial Bank Co. and to the First
National Bank of Celina, at par and interest. No other
bids were received.
Merrill, Klamath County, Ore.—Bonds Not Yet Sold.— No
sale has yet been made of the $5,000 6 % 10-20-year (op­
tional) gold coupon water-works bonds offered without
success on March 3 1906. We are informed that the town
expects to place these bonds in the near future.
Miami, Dade County, Fla.—Bond Offering.— Proposals
will be received until 8 p .m . Aug. 20 by M. R. Kellum, Clerk
Board of Commissioners of Public Works, for $100,000
municipal-improvement bonds. Denomination $1,000. Cer­
tified check for 1% of bonds bid for, payable to the Board(of
Commissioners of Public Works, is required.
Middletown, Ohio.—Bond Sale.— On July 23 the $1,075 70
4% 1-10-year (serial) street-improvement-assessment bonds
described in V. 83, p. 114, were awarded to Oglesby &
Barnitz of Middletown at 100.49—a basis of about 3.90%.
Following are the bids:
O g le s b y & B o r n i t z , M i d d l e t o w n . . S I , 0 8 1 I M e r e h a n t s ’ N a t . B k . , M i d d l e t o w n . S l , 0 8 0

Miles School District, Tex.— Bond Sale.— The State Board
of Education has purchased on a 4j^% basis $11,000 5%
20-40-year (optional) school-house bonds bearing date
Sept. 20 1905.
Milford, M ass. —Bonds Voted.—This city on July 15'voted
unanimously in favor of issuing $150,000 sewer bonds at not
exceeding 4% interest. These bonds will mature $1,000
yearly for ten years and $7,000 yearly for the foliowing
twenty years. Date of sale not yet determined.
Mineral Wells, Palo Pinto County, Tex.— Bonds Voted.—
At the election held July 17 the propositions to issue bonds
for school purposes and for street and sewer improvements
c arried.

J u l y 28 1906. J

THE CHRONICLE.

Molena School District (P. 0 . Molena), Iroquois County,

111.— Bond Sale.— The §1,000 0% 1-10-year (serial) coupon
school-building bonds described in \. 82, p. 1397, were
awarded to Dr. J. L. Fogg of Barnesville at 101.25. Interest
annually in June.
Monroe Union School District No. 1, W is .— Bonds Not Yet
Sold.— No sale has yet been made of the $40,000 4% school
bonds described in V. S2 , p. 471. We are advised that the
Board of Education expects to float these bonds at home.
Henry Ludlow, President First National Bank of Monroe,
is Treasurer of the Board.
Montreal, Que.— Temporary Loan.— This cit3r recently
negotiated a loan of §200,000 for four months with the Le
Credit Foncier at. i M % interest.
Moorhead, Sunflower County, M iss.— Bonds Not Sold.—
No sale has yet been made of the §15,000 6 % gold coupon
water-works bonds offered on July 1 and described in V. 82,
p. 1337. Several bids have been received, we'are informed,
but all of them contained conditions and were rejected.
Morgan Hill Independent School District (P. O. Morgan
Hill), Erath County, T ex .— Bonds Registered.— On July 18

§2,500 5% 5-40-year (optional) school-house bonds bearing
date Jill}- 14 1900 were registered by the State Comptroller.
Morgantown, Monongalia County, W . V a .— Bond Offer­
ing.— Proposals will be received until 12 m. Aug. 17 by II. L.
Swisher, Edgar B. Stewart and J. M. Jameson, Committee,
for §70,000 4 io % funding, sewering and street-paving bonds.
Denomination §1,000. Date Aug. 17 1906. Interest annual.
Maturity §1,000 yearly from 10 to 19 years; $3,000 yearly
from 20 to 25 years; §5,000 yearly from 26 to 31 years;
$ 6,000 in 32 years and $ 6,000 in 33 years. Certified check
for S2,000, payable to the city of Montgomery, required.
Morden, M an . — Debenture Sale.— On July 20 the $9,000
5% Midland Railway right-of-way debentures described in
V. 83, p .115, were awarded to the Bank of Hamilton for
S9,099 84. Following are the bids:
Bank of Hamilton........................$9,099 84|J. W . R ay----------------------------------SS.7G6 00
Canadian Securities Corp______9,076 00|Wm. C. Brent, Toronto--------------- 8,733 00
Union Bank of Canada_________ 9,000 001

Nanticoke, Luzerne County, P a .— Bond Offering.— Pro­

229

Mnckny & Co.. New York.
aS 100.000 bonds of 1936..................102.37 Ia? 100.000 bonds of 1936.
.101.89
ulOO.OOO bonds of 1936_________ 102.27 I alOO.OOO bonds of 1930.101.63
alOO.OOO bonds of 1936............— 102.011
William Saloman & Co., New York.
<i$ 125,000 bonds of 1936..............-102.25 Ja$500,00p bonds of 1936.100.75
<1500,000 bonds of 1 9 3 0 ,
o 125.000 bonds of 1936................102
-100.512
<1506,700 bonds of 1936.
<1125,000 bonds of 1936------------- 101.75
. 100.289
493,300 bonds of 1936.
<1125,000 bonds of 1936------------- 101.50
.100.289
1,000,000 bonds of 1930«250,000 bonds of 1 9 3 6 --............101.25
.100.071
<>250.000 bonds of 1936................101.005
Henry J. Dorr.
a$5,000 bonds of 1936....................... 102.69 |a$5.000 bonds of 1936
.102
United States I.lfe Insurance Co.
a$50.000 bonds of 1936......................... 1021
George Horn.
.102
aSlOO bonds of 1925 ......................... 101.50|a$50 bonds of 1 9 3 6 --.
Susan Devin.
aS20,000 bonds of 1936 .....................-.1021
Charles A . Horn.
a$250 bonds of 1936___________________102 |
J. H . B . Rebham.
.101.375
a$25,000 bonds of 1936________ 101.875 aS25,000 bonds of 1936a25,000 bonds of 1936.
.101.25
a25,000 bonds of 1936------------- 101.75
aSO.OOO bonds of 1936<>25,000 bonds of 1936------------- 101.625
.101.125
a50,000 bonds of 1936-101
025.000 bonds of 1936________ 101.50
Fidelity Fire Insurance Co., New York.
<>$200,000 bonds of 1936----------------101.771
W m . H . Judson & Co.
-100.9S
<>$5,000 bonds of 1936___________ 101.50 |o$5,000 bonds of 1936____
05.000 bonds of 1936___________ 101.34 O5.000 bonds Of 1936____
.100.78
<15,000 bonds of 1936____________ 101.12 |
Board of Trustees of 13th Street Presbyterian Church.
a$5,000 bonds of 1936___________ 101.761
Otto F . Jentz.
a$5,000 bonds of 1936___________ 101.501
Lizzie Beheim.
a$l,000 bonds of 1915___________ 101.501
Theresa Beheim.
oSl.000 bonds of 1915.................. .101.501
Miss G. Mellor.
-100
o$l,000 bonds of 1936 _______________ 101 IS5.000 bonds of 1936 _____
Harvey Fisk & Sons, New York.
a $500,000 bonds of 1936 (Rapid
<>$1,000,000 bonds of 1936____ .100.527
Transit) ------------------------------- 100.887 o l ,000,000 bonds of 1936____ .100.387
0 1 .500.000 bonds of 1936...........-.1 0 0 .7 7 7
1.000.
000 bonds of 1936___
.100.265
.100.135
o l ,000,000 bonds of 1930-------------100.G39
5.000.
000 bonds of 1930___
Paul Beadsley.
-.1 0 0 .2 7
aS250,000 bonds of 1936_________ 100.77 IS250,000 bonds of 193G
a250,000 bonds of 1936_________100.5571 250,000 bonds of 1936
-.1 0 0 .1 5
National City Bank, New York.
aSl.000,000 bonds of 1936_______ 100.511
W . R . Burt.
5100.000 bonds of 1936_______________ 1001
a Indicates award.

The result of the offering was a distinct disappointment to
the city officials, as the price obtained was the lowest in many
years. Altogether 26 bids were received, with an aggregate
of $19,127,400. Nearly all the bids were for the bonds
maturing in 1936, and as a result only $100 of the $500,000
water bonds due 1925 were awarded and only $29,000 of the
$1,000,000 assessment bonds due in 1915— the total award
being $11,029,100. The average price received was 100.97,
or a basis of about 3.94% . As indicating the low price ob­
tained we give below a table of New York City sales for
several years past.

posals will be received until 10 a. m. July 31 by the Borough
Council for $75,000 4^4% coupon sewer, refunding sewer
and general-improvement bonds. Denominations $500 and
$1,000. Date Aug. 1 1906. Interest semi-annually at the
office of the Borough Treasurer. Maturity one-sixth every
five years after date of issue. Bonds are exempt from State
tax. Bonded debt, this issue. Assessed valuation $1,274,760. C. L. Fairchild is Borough Secretary.
Nashville, Berrien County, Ga.— Bonds Voted.— By a vote
B asis oj
Rate o/
N o . o)
B ids.
Date
Sale—
Am ount.
Sale.
of 79 to 11 this town on July 16 authorized the issuance of July 25ol 1906___________ -6S12,500,000 Interest. 3.9 4 %
4
26
3.6 5 %
94
$25,000 water-works and light and $5,000 school-building Feb. 15 1906___________ 2 0 ,0 0 0 .0 0 0
4
Nov. 23 1905....... ............. - - 12,500,000
3.499%
18
3A
5% 30-year bonds. Securities will be offered in about 60 Apr. 24 1905----------------- - . 2 2 ,0 0 0 .0 0 0
3 .4 7 % !
67
3H
Apr. 24 1905___________
3,000,000
3 .4 9 % )
3A
days.
Nov. 23 1904----------------25,000,000
3.4 0 %
160
3A
May
1904___________
3.4 6 1 % )
98
3A
Needham, Mass.— Temporary Loan.— A loan of $10,000 May 3 1904___________ - - 32,000,000
-5,000,000
3 .4 8 5 % /
3
3A
for six months was recently negotiated with Bond & Good­ Men. 24 1904___________ - - 3,000,000
3 .4 9 /4 %
3H
37
Jan. 20 1904___________
1 0 ,0 0 0 ,0 0 0
3.49%
67
3'A
win of Boston at 4.60% discount.
Nov. 19 1903----------------3.456%
7,500,000
65
3A
3.418%
3A
37
New Albany, Ind.— Temporary Loan.— This city recently July 22 1903- ................ - - 3,500.000
May 12 1903----------------- 3,000,000
3.32%
60
3A
3.364%
42
negotiated a loan of $20,000 with the Merchants' National Apr. 9 1903___________ - - 2,500,000
3A
Mch. 5 1903___________ . .
3 .3 2 %
64
2,500,000
3A
Bank of New Albany at 5% . Loan matures in one, two, Jan. 22 1903___________ - - 7,000,000
3.312%
34
3A
49
Nov. 11 1902....... ............. - .
3.24 A %
7,500,000
3A
three and four months.
3.2 8 %
June 26 1902___________ - 20
4,667,000
3A
40
6
3 .233%
3A
Newark, N. J.—Bond Sale.— This city recently disposed of May IS 1902. ........... .. - - 4,993,000
Feb.
1902___________
3.194%
no
3A
at par to the Sinking Fund Commissioners an issue of $65,000 Dec. 12 1901----------------- - -. 3.000.000
12
3.222%
7.891,000
3A
15
3.178%
1901....... .............
3,600.000
3A
3^£% school bonds. Securities are dated Aug. 1 1906. Oct. 29 1901___________ - -. 3,000,000
3.368%
8
Sept. 16
3A
7
Interest semi-annual. Maturity Aug. 1 1956, subject to call June 17 1901___________ . . 3,057,125
3.2 2 %
3A
3.292%
3A
4
May 14 1901.................. - 5,885,000
after Aug. 1 1946.
Mch. 25 1901___________ . .
8
3.08 A %
2.500,000
3A
6
2.937%
3
Newark, Licking County, Ohio.— Bond Sale.— The follow­ Jan. 30 1901___________ - - 3,125,000
b Only $11,029,100 awarded
ing bids were received on July 23 for the two issues of 4%
fire and police-station bonds aggregating $15,500 and de­
New York Mills School District No. 3 (P. O. New York
scribed in V. 83, p. 55:
M ills), Oneida County, N . Y . —Bonds Defeated.— This dis­
$ 8 ,0 0 0
$ 7 ,5 0 0
P oliceB ond s.
F ire B onds. trict on July 24 defeated a proposition to issue $8,000 school
F ra n k lin N a tio n a l B a n k . N e w a r k ____________________________ $ 8 ,0 2 7 0 0
- ............- bonds.
B righ ton G e r m a n B a n k C o .. C in c in n a ti....................................... ....................
$ 7 ,5 3 7 75
W e il. R o th < C o ., C in c in n a ti________________ _________________ ___________
fc
7 ,5 1 5 01
Nokomis, Montgomery County, 111.— Bonds Voted.— This
Central T r u s t C o ., C in c in n a ti---------------------------------------------------- ----------------7 .5 0 9 7 5
city recently voted to issue $5,000 4}/£% 20-year city-hall
Newton, M ass.— Temporary Loan.— A loan of $100,000 bonds.
has been negotiated with the Eliot National Bank of Boston
Norfolk, Madison County, N eb. —Bond Offering.— Pro­
at 4% discount. Loan matures Nov. 7 1906.
posals will be received until 7 p .m . Aug. 30 by John Friday,
New York City.— Bond Sale.— The sale on July 25 of the Mayor, for $40,000 4% coupon sewer bonds voted at the elec­
four issues of 4% corporate stock aggregating $12,500,000 tion held March 20 1906. Denomination $1,000. Interest
resulted as follows, awards being indicated by an italic a:
semi-annually at the State Fiscal Agency in New York City.
A d a m N ic h e l.
Maturity thirty years. Certified check for 2% of the amount
o * 1 0 .0 0 0 b on d s o f 1 9 3 6 ................. ............... 1051
bid required.
W a d s w o r th & W r ig h t. N e w Y o r k C ity .
104.25
104.01

a t 2 5 .0 0 0 b on d s o f
a * 5 0 ,0 0 0 b on d s o f
0 * 1 0 .0 0 0 b o n d s o f
a 1 0 .0 0 0 bon d s o f
Or 1 0 ,0 0 0 b o n d s o f

C h a s. G . G a te s & C o ., N e w Y o r k .
1 9 3 6 .............................. 104 0 * 2 5 , 0 0 0 b o n d s o f 1 9 1 5 ---------K e a n . V a n C o r tla n d t & C o ., N e w Y o r k .
1 9 3 6 ................... . 1 0 3 . 5 9 5
C h ish olm < P o u c h .
fc
1 9 3 0 .................... -1 0 3 .8 1 1or $ 1 0 ,0 0 0 b o n d s o f 1 9 2 5 . . .
1 9 36 . __________1 0 3 .6 1 or 1 0 .0 0 0 b on d s o f 101.5 —
1 9 25 .............
1 0 2 .7 2 or 1 0 .0 0 0 b o n d s o f 1 9 1 5 —

H e n r y L e erb u rg e r. E x
o * 2 ,0 0 0 b o n d s o f 1 9 1 5 ............................10.3..50
B a n k e r s' T r u s t C o ., N e w Y o r k C ity .
o * l 1 7 .0 0 0 ;b o n d s o f 1 9 3 6 ____________ 1 0 2 .6 7 or $ 1 1 7 .0 0 0 b o n d s o f
o i 1 7 ,0 0 0 b on d s o f 1 9 3 6 ................... - . 1 0 2 . 4 9 or 1 1 7 .0 0 0 b on d s o f
a l 1 7 .0 0 0 b o n d s o f 1 9 3 6 . .................. 1 0 2 .3 1 or 1 1 7 .W 0 b on d s o f
a l l ' . O W bon d s o f 1 9 3 6 . . ................... 1 0 2 .1 9 or 1 1 7 .0 0 0 bon d s o f
a l 1 7 .0 0 0 b on d s o f 1 9 3 6 . . . ................ 1 0 1 .9 7 or 1 1 7 .0 0 0 bon d s o f
3 1 1 7 .0 0 0 b o n d s o f 1 9 3 6 ...................... 1 0 1 . 9 5 , or 1 1 7 .W 0 b o n d s o f
or 1 1 7 .0 0 0 bon d s o f 1 9 25 ___________ 1 0 2 .0 3 or 1 17 .W 0 b >nds o f
or 1 1 7 ,0 W bond s o f 1 9 2 5 _________1 0 1 .8 9
or 1 1 7 .0 0 0 b o n d s Of
or 1 1 7 .0 0 0 bond s o f 1 9 25 .................. 1 0 1 . 7 8 . or 1 1 7 .W 0 b o n d s o f

1 9 25 - 1 9 25
1 9 25 - .
1 9 15 - 1915 - 1 9 15 - 1 9 15 - 1 9 1 5 -1 9 15 .

Oakland School District (P. O. Oakland), Alameda County,
Cal.— Bonds Proposed.— Local papers state that the Board of

. . 100

a * 3 0 .0 0 0 b on d s o f 1 9 3 6 _____________ 1 0 4 .4 9 o $ 3 0 ,0 0 0 b o n d s o f 1 9 3 6 _______
0 3 0 .0 0 0 b on d s o f 1 9 3 0 ........... ............. 1 0 4 .4 0 ' a .3 0 ,0 0 0 b o n d s o f 1 9 3 6 .............

Education has under consideration the question of issuing
$160,000 bonds.

102.21
101.56
101.11

..1 0 1 .6 2
..1 0 1 .5 0
-.1 0 1 .4 0
..1 0 1 .1 5
-.1 0 1 .0 8
- .
. .

101.01
1 01 .00

-.100.91
100.83

Oakley (P. O. Station 15, Cincinnati), Hamilton County,
Ohio.— Bonds Voted.—The election July 14 resulted in the

authorization of the following bonds:
*5.000 4% Sidewalk bonds. Vote 122 for and 23 against.
7.500 4 % sewer bonds. Vote 117 for and 23 against.
4.000 4 % water-works bonds. Vote 116 for and 24 against.
5.100 4 % street-improvement bonds. Vote 121 for and 19 against.

Securities will mature in 1936. Date of sale not yet deter­
mined.
Olean, N. Y .—Price Paid for Bonds.— Wo are advised (hat
the price paid by Denison & Farnsworth for the $10,000

230

THE CHRONICLE

4% registered park-improvement bonds awarded to them on
July 6 was 102.27 and not 101.27 as previously reported.
See V. 82, p. 55, for description of bonds.
Omaha, Neb.— Bond Sale.— On July 24 the $100,000 4%
20-year coupon refunding sewer bonds described in V. 88 ,
p. 115, were awarded to Rhoades & Co. of New York City at
100.356— a bas's of about 3.974%.
Osceola, Clarke County, Iow a.—Bond Sale.— On July 23
the $32,000 20-year water-works and sewer-improvement
bonds described in V. 83, p. 115, and V. 82, p. 1515, were
awarded to MacDonald, McCoy & Co. of Chicago at 101.181
for 4J^%s— a basis of about 4.41%. Bids were also re­
ceived from S. A. Kean of Chicago and from Emery, Ander­
son & Co. of Cleveland. Denomination $500. Date Aug. 1
1906. Interest June and December.
Painesville, Lake County, Ohio.—Bonds Defeated.—The
election July 24 resulted in the defeat of the propositions to
issue $75,000 filtration-plant and $10,000 river-bank-repair
bonds. The vote was 258 for to 488 against the issues.
Pendleton, Ore.— Bonds Proposed.— The issuance of $10,000 sewer bonds is being considered. We are informed,
however, that no action has yet been taken looking to the
emission of these bonds.
Peoria, 111.—Bond Sale.— On July 17 $175,000 4% bridge
bonds were awarded to Estabrook & Co. of Boston. De­
nomination $1,000. Date Aug. 1906. Interest February
and August. Maturity Aug. 1926.
Pittsburgh, Allegheny County, Pa.—Bond Offerin'].— Pro­
posals will be received until 3 p. m. Aug. 2 by J. B. Larkin,
City Comptroller, for the following bonds authorized by the
City Councils on June 4:

[VOL. LXXXIII

St. Bernard, Hamilton County, Ohio.— B o n d

S a l e . —On

July 21 the $5,000 4 % 30-year coupon street-improvement
bonds described in V. 82, p. 1515, were awardee to Seasongood & Mayer of Cincinnati at 103.668 and interest— a basis
of about 3 .7 9 j ^ % .
Following are the bids:
Seasongood & Mayer, Cincin. $5,183
Central Tr. & Safe Dep.Co.,Cin. 5,162
Union Sav. Bk. & Tr. Co., Cin. 5,155
H. H. Johnanigmann, Cincin . 5.151
Atlas National Bank, Cincinnati 5,102

4 0 1Brighton Germ.Bk.Co..Cincin .S5.092
50' Well, Roth & Co., Cincinnati.. 5.063
55IS. A. Kean, Chicago......... .......... 5,002
09 IW . R. Todd & Co., Cincinnati.. 5,000
501

50
00
50
00

St. Johns, Ore.— B o n d S a l e . — On July 17 $10,000 6 % 10year gold coupon city-hall bonds were awarded to Morris
Bros, of Portland at 113.73 and blank bonds.
These are
the bonds awarded to the same firm last M ay, but which
were subsequently refused, owing to an error which has since
been corrected by ordinance. See V. 83, p. 116.
Salem, Ohio.— B o n d S a l e . — On July 17 813,775 refunding
bonds were awarded to the Ohio Mutual Insurance Co. for
$13,952 68.
Securities are dated July 10 1908 and will
mature from one to thirteen years after date.
Interest Jan. 1
and July 1.
Salisbury, Md — B o n d O ffe r in g . — Proposals will be received
until 8 p. m. July 30 by Henry J. Byrd, Clerk of City Council,
for $20,000 4 J ^ % coupon street-improvement bonds.
De­
nomination $500.
Date Aug. 1 1908.
Interest semi­
annual.
Maturity $5,000 Feb. 1 1912 and $2,000 yearly
thereafter.
Bonds are exempt from State, county and
municipal taxation.
Present bonded debt, $4,500; floating
debt, $1,000.
Assessed valuation 1906, $ 3 ,5 00,000.
Scipio Township (P. O. Republic), Seneca County, Ohio.—
B o n d O ffe r in g . — Proposals will be received until 12 m . to-day

(July 28) by D . D . Hilsinger, Township Clerk, for $12,000
4H %
coupon road-improvement bonds.
Denomination
$1,000.000 4% coupon judgment-funding bonds. Maturity on July 1 as follows: $500.
Date Sept. 1 1906.
Interest semi-annually at the
3166,000 in 1111, $166,000 in 1916 and $167,000 in each of the years office of the Township Clerk.
Maturity $ 1 ,0 0 0 March 1
1921, 1926, 1931 and 1936.
500,000 4% coupon water-extension bonds. Maturity $16,600 yearfy from July 1921, $1,000 Sept. 1 1921, and $1,000 each year thereafter.
1 1907 to July 1 1916 inclusive and $16,700 yearly from July 1 1917
The township has no debt at present. Assessed valuation
to July 1 1936 inclusive.
Denominations $100 and $1,000. Date July 1 1908. 1905, $ 1 ,0 10,500.
Seattle, Wash.— -B onds V a l i d . — The following is taken
Interest semi-annually at the City Treasurer’s office.
Bonds are not exempt from State taxation. Certified from the “ Seattle Post-Intelligencer” :

check for 5% of the amount of bonds bid for, payable to the
Treasurer of the city of Pittsburgh, required.
Plain Citjr, Madison County, Ohio.—Bond Sale.— On July
20 the two issues of 5% 53^-year (average) paving bonds
aggregating $13,000, a description of which was given in
V. 82, p. 1515, were awarded to the New First National
Bank of Columbus at 100.58— a basis of about 4.88%. No
other bid was received.
Pleasant Ridge, Hamilton County, Ohio.—Bond Sale.-—
On July 17 an issue of $5,000 5% 15-year street-repair bonds
bearing date May 25 1900 was awarded to Seasongood &
Mayer of Cincinnati at 107.288 and interest. Following are
the bids:

Olympia, July 17.— The Supreme Court to-day affirmed the decision of the King
County Superior Court, which was in favor of the city, in the suit brought by Robert
B. Fox against the city of Seattle. The action was to enjoin the issue of S I,100,000
municipal bonds, $600,000 to extend the municipal lighting system and S500.000 for
park purposes.
■The Court held that when three-fifths of the voters who voted on the bond ques­
tion cast ballots in favor of the bonds, such authorized the issue, though the total
vote favoring the bonds was much less than three-fifths of the total number of
electors voting at such election.

Seasongood & Mayer, Cincin__ $5,364 40|LamprechtBros. & Co., Cleve. _$5,227 00
W eil,Roth & Co., Cincinnati
5,340 00|New FirstNat. Bk., Columbus. 5.125 00
W. R. Todd & Co., Cincinnati.. 5,250 0 0 1

Smith Centre School District No. 4 (P. O. Smith Centre),
Smith County, Kan.— B o n d S a l e . — On July 2 the $16,000

Denomination $500. Interest semi-annual.
Potsdam, St. Lawrence County, N. Y .— Bonds Refused.—
We are informed that N. W. Halsey & Co. of New Yffirk City
have refused as illegal the $25,000 4% 1-25-year (serial)
drainage bonds awarded to them on July 10. See V. 83,
p. 55, for description of bonds.
Potter County (P. O. Amarillo), Tex.—Bond Sale.—The
State Board of Education has purchased at par and interest
the $20,000 4% 10-40-year (optional) road and bridge bonds
registered by the State Comptroller on July 13. Securities
are dated April 10 1906.
Prosperity School District No. 3 (P. O. Prosperity), Jasper
County, M o.—Bond Sale.— On June 26 the $12,000 5%
school-building bonds were awarded to Irene Porter at 97.
Raton School District No. 11 (P. O. Raton), Colfax
County, N. M ex.—Bond Offering.—Proposals will be re­
ceived until 8 p. m. Aug. 6 by A. Jelfs, Clerk Board of Edu­
cation, for the $10,000 5% coupon building bonds authorized
at the election held June 21 1905. Denomination $500.
Date July 1 1906. Interest semi-annually in Raton. Ma­
turity July 1 1936, subject to call after July 1 1926. Bonded
debt, including this issue, $25,000. Assessed valuation,
$1,040,000.
Ravalli County (P. O. Hamilton), M ont.—Bonds With­
drawn from Market.— We are advised that, owing to an error
in the Commissioners’ proceedings, the $75,000 4% refunding
bonds, the sale of which was to have taken place to-day
(July 28), have been withdrawn from the market. See V.
82, p. 1515, for details of bonds.
Ravenna, Buffalo County, Neb.— B o n d Election.—An elec­
tion will be held July 31 to vote on the question of issuing
$4,250 gas-lighting and heating-plant bonds.
Rochester, N. Y .— Temporary Loan.— This city on July
26 negotiated an 8-months loan of $150,000 with the Roches­
ter Savings Bank. The bids received were as follows:

1-15-year (serial) registered school bonds described in V . 82,
p. 1516, were awarded to the State of Kansas at par for
4^% s.

Rochester Savs. Bk.] tor $75,000
5% |B'way Savs. Instit'n__Ior $50,000
5%
(S5 premium lor each V
IBank tor Savs. ($10 premium)_______ 5%
item) ----------------- Jfor 75.000 4.75% iGoldman, Sachs & Co., New York. _5>£ %

Royalton (P. Q. Gasport), Niagara County, N. Y .—Bond
Sale.— On July 2 $4,000 4)^% ditch-improvement bonds
were awarded, $1,000 to Linus E. Sheldon and $3,000 to
E. Knapp. Denomination $1,000. Date July 2 1908.
Interest payable on April 1.

The $800,000 light bonds were sold to the State on July 9.
See V . 83, p. 176.
Senatobia, Tate County, Miss.— B o n d O ffe r in g . — Proposals
will be received at any time b y H . I. Gill, Town Clerk
(P. O. Box 67), for $4,000 5 J^% 5-20-year (optional) water
bonds. Denomination $500.
Date Oct. 1 1903. Interest
semi-annual.

South Bethlehem, Northampton County, Pa.— B o n d E le c ­
t io n . — An election will be held Aug. 7 to vote on the questino
of issuing $75,000 4 % 15-30-year (optional) street-improve­
ment bonds.

South Boston (Town), Halifax County, Va.— B o n d

O ffer ­

i n g . — Proposals will be received until Sept.

25 by Henry
Earley and J. J. Lawson, Committee, for the $100,000 4 J ^ %
coupon sewerage, water and street-improvement bonds men­
tioned in V . 83, p. 116.
Springfield, Ohio.— B o n d O ff e r in g . — rPoposals will be re­
ceived until 8 p. m . Aug. 14 b y Frank A . Crothers, Clerk
of Council, for $15,000 4 % coupon street-improvement
bonds.
Denomination $1,000.
Date July 1 1908. Interest
March 1 and Sept. 1 at the office of the City Treasurer.
Maturity $10,000 on March 1 1918 and $5,000 on March 1
1919. Certified check for $1,000 is required with each bid.

Staunton Township School District (P. O. Staunton),
Macoupin County, 111.— B o n d S a l e . — On July 2 the $10,000
5 % 3-5-6-3rear (average) registered building bonds described
in V . 82, p. 1516, were awarded to Charles R . W all of Staun­
ton at 103.15.

Stoneham (P. O. Maynard), Chippewa County, Minn.—
B o n d s N o t S o l d . — No sale was made on July 14 of $1,300 5 %
bridge bonds offered by this town.
V ie are informed that

the loan will now probably be obtained from the State.
Strathcona, Alta.— D eb en tu re O ffe r in g . — Proposals will be
received until Aug. 1 by Geo. F . Downes, Secretary-Treas­
urer, for $16,000
debentures.
Sunflower County (P. O. Indianola), M is s .— B o n d S a l e .— This county has disposed of an issue of $30,000 bonds bearing
date July 1 1908 to F. R . Fulton & Co. of Chicago, at par
and interest.
Tamaqua, Schuylkill County, Pa. — B o n d s V o t e d . — This
borough has voted in favor of issuing $12,000 funding and
$12,000 street-paving 3 J ^ % 5-20-year (optional) bonds.
Tiffin, Ohio.— B o n d O ffe r in g . — Proposals will be received
until 1 1 a . m. Aug. 24 by John E . Diemer, City Clerk, for
$44,000 4 % coupon refunding bonds, Series 9.
Authority
Section 2701 of the Revised Statutes and resolution of the

J uly 28 1900. |

TUJE CHRONICLE.

231

City Council adopted July 2 190(5. Denomination SI,000. We are informed that another election will probably be held
Date Aug. 31 190ti. Interest semi-annually in Tiffin. Ma­ in the near future.
turity Sept. 1 1921. Bids must be made on blank forms
Trumbull County Road District No. 1 , Ohio.— Boml Offer­
furnished by the city, and must be accompanied by a certified
check for 5% of the bonds bid for, payable to the City Clerk. ing.— Proposals will be received until 1 p. m. Aug. 4 by J. O.
Bond Salt .— The Sinking Fund Trustees have purchased Hassler, Clerk Board of Road Commissioners, P. O. Warren
at para S12,500 4% reg.'steredGreenfield Street improvement for $50,000 5% coupon road-improvement bonds. Denomi­
bond. Date Sept. 1 1900. Interest semi-annual. Ma­ nation $ 1,000 . Date March 1 190(5. Interest semi-annually
at the office of the County Treasurer. Maturity as follows:
turity Sept. 1 1910.
3 ,0 0 0 due
3 .0 0 0
8 ,0 0 0 due
Bond Authorized.— A S 1,500 bond has been authorized $ 3 .0 0 0 due S ep t. 1 1912 S3 .0 0 0 d u e S ep t. 1 1914 $ 8 .0 0 0 due S ep t. 1 1910
M arch 1 1913
d u e March
1 19 15
March
1 1917
3 .0 0 0 duo S ep t.
4 .0 0 0 due S e p t.
1 1913
1 1915
8.000 due Sept. 1 1917
for the purpose of building a new engine house.
3 .0 0 0 due March 1 191*1
4 .0 0 0 d u e M arch 1 19 16
Certified check for $500 payable to C. C. Cliryst, Secretary,
required. Bonded debt including this issue, $185,000.
Assessed valuation 1905, $7,592,808.
Twin Township (P. O. West Alexandria), Preble County,
Ohio.—Bond Sale.— On July 14 the $2,200 4% coupon ceme­
tery bonds described in V. 83, p. 57, were awarded to It. J.
W. Ozias of West Alexandria, at 100.(593 and interest—
basis of about 3.717%. Securities are dated July 16 1906
and will mature $550 yearly on Sept. 1 from 1907 to 1910
inclusive. The following bids were received:
r

Tioga Independent School District (P. O. Tioga), Grayson
County, Texas.— Bonds Not Sold.— No sale has yet been con­
cluded of the $12,000 5% coupon school-building bonds
offered on July 2. For description of bonds see V. 82, p.
1460.
Tonawanda, Erie County, N. Y .— Bond Sale.— On June 27
$15,000 4k1 refunding bonds were awarded to W. J. Hayes
i%
& Sons of Cleveland at 102. Denomination $(500. Interest
January and July. Maturity yearly in July from 1911 to
1934 inclusive.
Torrance County (P. O. Estancia), N. M ex.— Bond Offer­
ing.—Proposals will be received until 10 a. nr. Aug. 15 by
John U. Corbett, Probate Clerk, for $5,000 coupon currentexpense and $7,000 coupon court-house 5% 20-30-year
(optional) bonds. Denomination $100 or multiple. Inter­
est January and July at Estancia or at New York City.
Cash or certified check for $250, payable to Valentin Condelaria, Chairman Board of County Commissioners, required.
Bonded debt, this issue; floating debt, $5,000.
Trout Creek School District No. 6 , Sanders County, Mont.
— Bond Offering.— Proposals were asked for until 12 m. yes­
terday (July 27) by D. W. Brown, Clerk, for $1,500 6 %
gold coupon school-house bonds. Denomination $500.
Date*July 1 1906. Interest payable in Trout Creek. Maturity'5’ years. The district has no debt at present. Assessed
valuation $200,292.
Troy, Ohio.—Bonds Defeated.— This city on July 2 de­
feated a proposition to issue $40,000 electric-light bonds.

IN V E S T M E N T S ,
M U N IC IP A L
AND

Public Service Corporation
BOSDS.
E. H. R O L L IN S & SONS.
Chicago.

San Francisco.

Uhrichsville, Tuscarawas County, Ohio.— Bond Sale.—
On July 26 the $14,500 4% 30-year refunding bonds described
in V. 83, p. 57, were awarded to the Savings & Trust Co.
of Dayton for $14,600 and interest.
Walnut Grove School District No. 4 (P. O. Glenwood
R. F. D. No. 1), Iowa.—Bond Sale.— On July 1 $500 6 %
1-5-year (serial) school-house bonds were awarded to A. D.
French of Glenwood at 101, purchaser to furnish blank
bonds free of charge. Denomination $100. Date Aug. 1
1906. Interest May and November.
Washington Township School District, Pike County, Ind.
—Bond Sale.— On July 7 $18,000 4k£% 1-5-year (serial)
school bonds -were awarded to J. F. Wild & Co. of Indianapo­
lis for $18,207 50. Denomination $500. Date July 20 1906.
Interest semi-annual.
Webb City, Jasper County, M o.—Bond Offering.— Pro­
posals will be received until 5 p. m. Aug. 6 by L. O. Walker,

IN V E S T M ENTS. __

N

ew

Y

.

o rk

P

h il a d e l p h ia

M U N IC IP A L
AND

P U B L IC SERVIC E C O R P O R A T IO N

BONDS.

R. L. D A Y

& CO,

THE

BOSTON, M ASS.

SOUTH.

Business Opportunities, Investment
Securities, Real Estate, Timber Mines,
Industrial Properties, Farm or Town
Mortages in all parts of the South.
METROPOLITAN INVESTMENT CO.,
G E O . B . E D W A R D S , P resid en t. Charleston S . C .,
Com m ercial and F in ancial A g e n t . B usiness undertaken
n all parts of th e w o rld . S a tisfa c to ry references.

8 Nassau Street,
NEW YORK.

MEMBERS

COMPANY,

BA N K E R S ,

.

BANKERS,

C L EVELAN D. OHIO.

Sc

D etroit .

MUNICIPAL AND
PUBLIC FRANCHISE CORPORATION
85 Congress 8treet,
BONDS
BOSTON.
Bough t and Sold.

W. J. HAYES & SONS,

IN V E S T M E N T S .

H. W. N O B L E & C O M P A N Y , ERVIN

BOSTOX.
Denver.

R . J . W . O zias. W e s t A Ie x a n d ’a $ 2 ,2 1 5 2 5 | E a to n N a t . B a n k , E a t o n _______ S 2 .2 0 5 25

..

(New York Stock Exchange,
em ers ^pjm a^eipjjja stock Exchange.

SSONDS

FOR

48 Exchange Place,
New York.

IN V E S T M E N T .
Drexel Building,
Philadelphia.

Perry, Coffin Sc Burr,
IN V E ST M E N T BONDS.

NEW YORK AND B08TON
STOCK EXCHANGES.

60 State Street,
BOSTON.

S T A T E . M U N IC IP A L A N D H I G H G R A D E
R A IL R O A D S E C U R IT IE S .

Mobile City Bonds
Alabama State Bonds
D e a l t In by u* .
W ir e

n«

y o u r DOerl ng.

Albert Kleybolte & C o.,
4 0 9 W a ln u t Street,
C IN C IN N A T I, O.

Carefully Selected
M UN IC IP AL BONOS

MACARTNEY & SCHLEY
Whiting Papers

And other Hioffi-Crade
Investment Securities.

BANKERS S BROKERS
i

Full descriptions showing price and Income
on application.

M O B ILE. ALA.

M UNICIPA L AND RAILRO AD

BONDS.
L IS T

ON

A P P L IC A T IO N

5EAS0NG00B & M a YES
M e r c a n tile

For

and f o r G e n e r a l B u s i n e s s U s e s are
standard, m i d e in L e d g e r , B o n d ,
Linen a n d F i n e W r i t i n g in v a r i e t y

W H ITIN G
New York.

PAPER C O ,

PhiladelDhia. Chicago.

% I U bi l l o l y t k e , :" Xa
1
Y

m

.

L ib r a r y

R n lld ln s ,

OIN fllN N A TI.

F in e C o m s p o n d e n c e

B3NDS

STOCK

E n g ra v ed on
p a rtly printed

Blodget, Merritt & Co ,
BANKERS,

16 Cong ess S t r e e t
3«NA8HAt

HTATK

STREET. NEW

Boston.
YOttR.

CITT A RAILROA U BONDS.
b i[a »li.n «< i i n M .

CERTIFICATES H. C. Speer & Sons Co.

steel or llth o rg ap h ed , or
and p artly lithographed.
Book of 100 certificates, steel-p late
b order, and seal press, $15: cheaper
sty les as low as $2 50 for a b ook of 50.

ALBERT B. KING & CO. 206 Broadw N.Y.
ay,

First Nat Bunk Building, Chicago.
CITY C O U N T Y
AND TOWNSHIP

BONDS.

232

TH K CHRONICLE.

C ity Clerk, for $ 7 ,6 5 0 4 % % 10-year funding bonds.
Certi­
fied check for $300 , payable to the City of W ebb City,
required.
Wenham, M ass. — N o te O f f e r i n g '.— Proposals will be re­
ceived until 1 p.. m . July 31 by the Town Selectmen for
$ 1 0 ,5 0 0 4 % notes maturing $ 1 ,5 0 0 July 1 1907 and $1 ,0 0 0
thereafter.

West Seneca Union Free School District No. 6 (P. O. West
Seneca), Erie County, N. Y . — B o n d s N o t S o l d . — No sale was
made on July 23 of the four issues of 4 % 1-25-ycar (serial)
bonds, aggregating $ 1 0 7 ,5 0 0 , a description of which was
given in V. 8 3 , p. 178.

Wichita School District (P. O. Wichita), Sedgwick County,
Kan.— B o n d S a l e . — The $ 4 0 ,0 0 0 10-20-year (optional)
school-building bonds offered but not sold on June 30 were
awarded on July 20 at private sale to A . J. H ood & Co. of
Detroit at par for 4 % % s , purchaser to furnish blank bonds.
See V . 8 2 , p. 1401, for description of bonds.

Wilkes-Barre School District (P. O. Wilkes-Barre),
Luzerne County, Pa. — B o n d S a l e .— As stated last week,
$ 9 8 ,0 0 0 of the $ 1 0 0 ,0 0 0 4 % coupon school-building bonds
described in V . 83, p. 117, were awarded to Rudolph Ivleybolte & Co. of New Y ork C ity, the price being 1 0 0 .5 1 .
The
remaining $ 2 ,0 0 0 bonds were disposed of to T . M . Conniff,
A ttorn ey , of W ilkes-B arre, at 1 0 1 % .
Securities mature
$ 5 ,0 0 0 rearly from 1911 to 1918 and $ 1 0 ,0 0 0 yearly from
1919 to 1924 inclusive.
The $ 2 ,0 0 0 sold to the local attorney
matures in 1924.
f : Williston, Williams County, No. Dak. — B o n d S a l e .— On
June 28 the $ 1 2 ,0 0 0 6 % 1 3 % -y e a r (average) coupon water­
works bonds and the $ 1 5 ,0 0 0 6 % 1 8 % -y e a r (average) coupon
electric-light-plant bonds described in V . 8 2 , p. 1401, were
awarded to C. C. Gowran & Co. of Grand Forks at 103 and
accrued interest, purchaser to furnish blank bonds free of
charge. Interest will be payable sem i-annually at the First
National Bank of Chicago.
Willmar, Kandiyohi County, Minn.— B o n d S a l e .— On
Ju lj 16 th e” $ 5 ,0 0 0 5 % im provem ent bonds described in
V > 8 3 , p. 117, 58, were awarded to the Board of Sinking
Fund Commissioners at par.

3

[VOL. LXXXI1I.

Winona, Minn.—Bond Sale.— The Second National Bank
of Winona has purchased at 102 and interest $ 5,000 4%
20-year park bonds dated July 1 1906. Securities are part
of an issue of $10,000 bonds, of which $5,000 was sold on
July 9 to Regina Schmidt at the same price, this latter sale
having been already recorded in V. 83, p. 118. The sales
were made on a basis of about 3.856%.
Winthrop, M ass.— Temporary Loan.— This town recently
negotiated a $20,000 9-months loan with Loring, Tolman &
Tupper of Boston at 4.84% discount.
Woodlawn, Jefferson County, Ala.— Bond Election.— An
election will be held to-day (July 28) to vote on the question
of issuing $15,000 5% 20-year sewer bonds.
W oodstock School District No. 72, (P. O. W oodstock),
McHenry County, 111.— Bond Sale.— On July 9 $22,500 5%
school-building bonds were awarded to Trowbridge & Niver
Co. of Chicago for $23,891 50 and interest— a basis of about
4.236%. Denomination $500. Date Aug. 1 1906. Inter­
est annual. Maturity yearly on Aug. 1 as follows: $500 in
the years 1908 and 1909; $1,000 in the years 1910, 1911,
1912 and 1913; $1,500 in the years 1914 and 1915; $3,000 in
the years 1916, 1917, 1918 and 1919, and $2,500 in 1920.
Worcester, M ass.—Loan Order Vetoed.— Mayor Duggan on
July 20 vetoed an ordinance providing for a loan of $100,000
for a new central police station.
Xenia, Ohio.— Bond Offering.— Proposals will be received
until 12 m. Aug. 20 by C. F. Logan, City Auditor, for $49,500
4% Second Street bonds. Of this issue $41,000 is to be paid
by assessments and $8,500 by the city at large. Denomina­
tion $500. Date Aug. 15 1906. Interest semi-annually at
the office of the City Treasurer. Maturity $5,000 yearly on
Aug. 15 from 1907 to 1915 inclusive and $4,500 Aug. 15 1916.
Accrued interest to be paid by purchaser. Certified check on
a Xenia bank for 5% of bonds bid for, payable to the City
Treasurer, required.
Yellow Medicine County (P. O. Granite Falls), M inn.—
Bond Sale.— On July 9 the $5,500 5% 1-10-year (serial)
coupon ditch bonds described in V. 83, p. 58, were awarded
to the Union Investment Co. of Minneapolis for $5,650— a
basis of about 4.43% % .

INVESTM ENTS.

M ISCELLANEOUS.

Specialists in New Jersey Securities.

OFFICE OF THE

e is e l e

& k in g ,

BANKERS,

New York, January 23rd, 1906.

Members of New York and Philadelphia
Stock Exchanges.
Private Wires to
7S7*75!I Broad 8 t n
N. Y. & Philadelphia.

ATLANTIC MUTUAL INSURANCE COMPANY,

NEW ARK,

The Trustees, in con form ity with the Charter of the C om p a n y, subm it the follow in g statem ent of its
affa irs on the 31st of D ecem ber 1905.

Premiums on Marine Risks from 1st January, 1905, to 31st December, 1905_____S2,977,854 37
Premiums on Policies not marked off 1st January, 1905______________________
616,551 57
Total Marine Premiums_______________________________________________ $3,594,405 94

MacDonald, McGoy k
MIUM/C/PAL

AMD

G
o.,

CORPORATION

BONDS.
x8i La Salle Street, Chicago.

F. R. FULTON & CO.,
M unicipal Bonds.

181 LA SALLE STREET.
CHICAGO.
H IG H G R A D E B O N D S
L ists u p o n request.

Denison & Farnsworth,
B O STO N a n d C L E V E L A N D .

Trow bridge & Niver Co.

Premiums marked off from 1st January, 1905, to 31st December, 1905__________ $3,012,213 96
Interest received during the year_________________ $295,738 65
Rent, less Taxes and Expenses____________________ 99,338 33

$395,076 98

Losses paid during the year which were estimated in 1904
and previous years________________________ $271,100 60
Losses occurred, estimated and paid in 1905________ 827,295 95 $1,098,396 55
Less Salvages___________________$130,068 59
Re-insurances __________________ 35,947 85

166,016 44
$932,380 11

Returns of Premiums_________ - ___________________________
$80,615 47
Expenses, including officers' salaries and clerks’ compensation, sta­
tionery, newspapers, advertisements, &c_______________
$374,746 88
The Company has the following Assets, viz.:
United States and State of New York Stock, City, Bank and other Securities_____$5,198,042 00
Special deposits in Banks and Trust Companies___________________________ 1,583,212 84
Real Estate corner Wall and William Sts. and Exchange Place___$4,299,000 00
Other Real Estate and claims due the Company_______________
75,000 00 4,374,000 00
Premium notes and Bills Receivable_____________________________________ 1,127,674 83
Cash in the hands of European Bankers to pay losses under policies payable in
175,632 33
foreign countries____________________ _______________ ___________
257,865 62
Cash in Bank_____________ Jill____________________________________
$12,716,427 62
Aggregating
A dividend of Six per cent interest on the outstanding certificates of profits will be paid to the
holders thereof, or their legal representatives, on and after Tuesday the Sixth of February next.
The outstanding certificates of the issue of 1900 will be redeemed and paid to the holders
thereof, or their legal representatives, on and after Tuesday the Sixth of February next, from which
date all interest thereon will cease. The certificates to be produced at the time of payment and
canceled.
A dividend of Forty per cent is declared on the net earned premiums © the Company for the
f
year ending 31st December, 1905, for which, upon application, certificates will be issued on and
after Tuesday the First of May next.

MUNICIPAL AND PUBLIC SERVICE

By order of the Board,
G. STANTON FLOYD-JONES, Secretary.

TRUSTEES.

BONDS.

GUSTAV AMSINCK,
FRANCIS M BACON,
.
JOHN N. BEACH,
CHICAGO,
BOSTON,
WILLIAM B. BOULTON,
1st Nat. Bank Bldg,
60 State Street VERNON H. BROWN,
WALDRON P. BROWN,
JOSEPH H. CHAPMAN,
A t l a n t i c n ' T n t u a l ' I n s i i r a n c e C o m p a n y S c r i p GEORGE C. CLARK,
o f A i l Y e a r s n o u g h t a n d H old,
CLEVELAND H. DODGE,
CORNELIUS ELDERT,
RICHARD H. EWART,
EWALD FLE1TMANN.

JOHN M. GILLESPIE,

Boom No. 518 Atlantic Building,
4 9 -5 1 W all Street,
NEW YORK.

W. H. H. MOORE,
HERBERT L. GRIGGS.
NICHOLAS F. PALMER.
CLEMENT A. GRISCOM,
HENRY PARISH,
ANSON W. HARD,
DALLAS B. PRATT,
MORRIS K. JESUP,
GEORGE W.QUINTARD,
THEODORE P. JOHNSON,
A. A. RAVEN,
LEWIS CASS LEDYARD,
JOHN L. RIKER,
FRANCIS H. LEGGETT,
DOUGLAS ROBINSON,
CHARLES D. LEVERICH,
GUSTAV H. SCHWAB,
LEANDER N. LOVELL,
WILLIAM A. STREET,
GEORGE H. MACY,
■WILLIAM C. STURGES.
CHARLES H. MARSHALL,
A. A. Rf'VEN, P resid en t.
CORNELIUS ELDERT, V ice-P resid en t.
THEO. P. JOHNSON, 2d V ice-P resid en t.
JAMES L. LIVINGSTON. 3d V ice-P resid en t.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102